Data released moments ago by the US Bureau of Labor Statistics showed that the Consumer Price Index (CPI), which measures inflation, rose 0.1% in July, down 0.4% in June, matching market expectations. The core CPI, which excludes food and energy prices, rose 0.2%, compared to 0.0% in June.

Meanwhile, the annual CPI over the past 12 months rose to 3.4%, compared to 3.58% in June, also matching expectations. The core annual CPI rose to 2.5% from 2.6%. In detail, the energy index recorded a decrease of 1.5% in July on a monthly basis after a decrease of 5.7% in June and an increase of 14.7% on an annual basis from 15.7% in May, while the food index rose in May to 3.4% on an annual basis from 3.0% in June and 0.1% on a monthly basis, while the housing and shelter index remained stable at 0.1% on a monthly basis and 3.2% on an annual basis from 3.3%.