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Tuesday, July 23, 2024

US stocks rise after CPI shows inflation came in cooler than expected in July

US stocks rise after CPI shows inflation came in cooler than expected in July

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US stocks jumped on Thursday as July Consumer Price Index data showed inflation rose last month at a slower rate than economists were predicting. 

Inflation rose 3.2% on an annualized basis in July. That’s higher than 3.0% in June but lower than the expected rate of 3.3%. Month-to-month, inflation rose 0.2% from June to July, which was in line with expectations. 

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