Inflation was stable in July in the United States, according to the CPI index published on Tuesday, while the markets expected an acceleration due to new customs duties.
The consumer price index increased at the same rate as in June (+2.7% over one year), contained by the drop in the cost of oil (- 9.5% over one year).
Over a month, the index is displayed even in slowing down, at +0.2% after +0.3% in June, in line with analysts’ expectations, according to the consensus published by Marketwatch.
Excluding volatile energy and food prices, the index, however, marks a clear acceleration at +3.1% over a year, which still remains in line with expectations.
The publication comes in a sensitive context.
The majority of economists expect to see inflation accelerate in the United States as the customs duties set up by President Donald Trump since his return to power in January.
Official data, however, still derailed, making the head of state say that there is no inflation and therefore no reason for the central bank of the United States (Federal Reserve, Fed) not to lower its rates.
The statistics department at the origin of the CPI index, the Employment Statistics Office (BLS), is also shaken by the president’s direct interventions.
Donald Trump appointed EJ Antoni on Monday, an economist of a very conservative reflection center, head of the BLS, almost two weeks after having shaved his head, just after the publication of employment figures showing that he deteriorated clearly in the spring.
‘Our economy is flourishing and EJ will ensure that the published figures are honest and just’, according to a message from the president.
Responsible for economic issues at the Heritage Foundation, known for its very conservative positions, EJ Antoni published on the site of this reflection center several articles favorable to the policy of the Republican President.
/ATS
