US inflation rises 0.1% in July, easing pressure on the Federal Reserve

Official economic reports for July show that U.S. inflation ticked up by 0.1% with consumer prices for goods and services coming in largely on target, easing pressure on the Federal Reserve and bolstering arguments to hold interest rates steady.

• US inflation rose by 0.1% in July.
• The data bolsters the argument for the Federal Reserve to hold rates.
• July CPI inflation readings met expectations
• Consumer prices for goods and services were on target