The US Consumer Price Index (CPI) inflation rate dropped to 2.5% on a yearly basis in August, down from 2.9% in July, according to the latest data from the US Bureau of Labor Statistics (BLS). This figure came in slightly below the market's expectation of 2.6%.
The core CPI, which excludes volatile food and energy prices, rose by 3.2% year-over-year, remaining consistent with both July's reading and market predictions. On a monthly basis, the overall CPI rose by 0.2%, while the core CPI saw a slightly higher monthly increase of 0.3%.
Market Reaction Following the release of this data, the US Dollar Index (DXY) pared back its earlier gains and was last seen trading flat at 101.62.
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