Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
U.S. consumer prices remained unchanged in July on falling gasoline costs, but solid gains in industrial output and home building suggested a pickup in economic activity that could allow the Federal Reserve to raise interest rates this year. Tuesday's mixed reports came as influential New York Fed President William Dudley said the U.S. central bank could hike rates next month, citing a tightening labor market that he said was starting to spur faster wage growth.The Fed has a 2 percent inflation target and tracks an inflation measure which has been stuck at 1.6 percent since March.In the wake of Dudley's remarks, financial markets were placing a 51.4 percent probability of a rate increase at the Fed's December policy meeting, up from 46.7 percent late Monday, according to CME Group's FedWatch tool. Medical care costs climbed 0.5 percent last month, adding to June's 0.2 percent gain.In a separate report, the Fed said industrial production shot up 0.7 percent last month after rising 0.4 percent in June.
FOLLOW THIS ARTICLE