Inflation flat in July
It's seemingly the first time in a long time that the inflation figures have surprised in a good way.
US headline inflation came in at zero for the month, and the annual inflation rate fell from 9.1 per cent to 8.5 per cent in July (better than the expected 8.7 per cent).
Core inflation also came in markedly better than expected at 0.3 per cent for the month.
James Foster very quick off the mark with the key statistics:
Core inflation year-on-year has been in decline for 4 months on the bounce now.
The decline in the annual rate of inflation was overwhelmingly driven by the ongoing decline in gas prices (which fell by -7.7 per cent in the month of July).
Some welcome respite from the endless news of increases in inflationary pressures; and in turn good news for risk asset classes.
