News

(Bloomberg) -- Argentina’s monthly inflation reached the lowest level since early 2022 after President Javier Milei briefly tapped the brakes on his economic shock therapy by postponing utility hikes.Most Read from BloombergManchester Is Giving London a Run for Its MoneyBoston’s Broke and Broken Transit System Hurts Downtown RecoveryA Warehouse Store Promises Housing for South LA, in BulkBiden Invests $100 Million to Fuel Housing ConstructionJohannesburg Mayor Quits Amid Infighting, Financial Wo

Argentina's monthly inflation rate stood at 4.0% in July, official data published on Wednesday showed, in line with a Reuters forecast and returning to slowdown after speeding up in June. Inflation in the 12 months through July stood at 263.4%, still the highest recorded in the world, a tick above the poll forecast of 263%.

U.S. consumer prices rose moderately in July and the annual increase in inflation slowed to below 3% for the first time in nearly 3-1/2 years, opening the door wider for the Federal Reserve to cut interest rates next month. The report from the Labor Department on Wednesday marked the third straight month of tame consumer price readings and added to a mild rise in producer prices last month in suggesting that inflation was firmly back on a downward trend.