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Core CPI up 0.22 percent in July, lowering annual rate to 2.5 percent, Nick Timiraos notes

Core CPI up 0.22 percent in July, lowering annual rate to 2.5 percent, Nick Timiraos notes
Core CPI rises, annual rate at 2.5 percent

Nick Timiraos, chief economics correspondent at Wall Street Journal, reports that the core Consumer Price Index (CPI) increased by 0.22 percent in July.

This monthly rise led to a decrease in the 12-month core CPI change, bringing it to 2.5 percent.

Earlier this year, NY Fed President John Williams confirmed strong support for recent policy decisions and indicated more rate hikes may be warranted if inflation persists. Philadelphia Fed President Anna Paulson also expressed support for steady policy while remaining flexible about future changes, according to reporting from Nick Timiraos. Both statements came amid ongoing monitoring of inflation data.

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