• Thursday saw the release of the consumer price index data by the US Bureau of Labor Statistics, indicating a 0.2% increase in July on a seasonally adjusted basis. This aligns with the identical increment observed in June. Over the preceding 12 months, the All Components Index recorded a 3.2% rise, not accounting for seasonal adjustments. Notably, the housing index emerged as the primary driver of the monthly upswing in overall items, contributing to over 90% of the increase. The motor insurance index also played a significant role in this growth.

• During July, the food index exhibited a 0.2% upturn, a continuation of its 0.1% growth from the prior month. Within this category, the home food index experienced a 0.3% increase, whereas the food outside the home index noted a 0.2% rise. Energy index displayed a modest 0.1% increase, reflecting fluctuations across the principal energy components. Excluding food and energy, the index for all items showcased a 0.2% expansion in July. Within the month, certain indices such as airline tickets, used cars and trucks, medical care, and telecommunications demonstrated a decline in prices.