US inflation inches up; Fed expected to pause

By Agence France-Presse

Aug 12, 2023 12:35 am

WASHINGTON, D.C.: US consumer inflation inched up in July, government data showed Thursday, rebounding slightly for the first time in around a year and weighing on policymakers as they mull further interest rate hikes.

The consumer price index (CPI), a key inflation gauge, rose 3.2 percent from a year ago last month, according to the Labor Department — slightly up from June's 3.0-percent pace and breaking a streak of cooling figures.

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