July CPI inflation matches 3.4 percent forecast as core rate reaches 2.5 percent

The July Consumer Price Index (CPI) reported an annual inflation rate of 3.4%, aligning perfectly with economist projections. Simultaneously, the core inflation figure, which excludes volatile food and energy prices, settled at 2.5%, also meeting market forecasts.

On a month-over-month basis, consumer prices edged up by 0.1%. This represents a shift from the previous month's performance, where June saw a decline of 0.4%.

Following the release of these figures, US stock market futures trended upward as investors reacted to the data matching consensus estimates.