US inflation slows in July as Federal Reserve expected to cut interest rates

Independent analyst Evan Lucas has discussed the latest US Consumer Price Index (CPI) data and what it means for the upcoming Federal Reserve interest rate decision. It comes as the annual US inflation dipped to 2.9 per cent from three per cent in June, leaving many economists hopeful the Federal Reserve will cut interest rates in September. A rate cut in September would be the country's first since March 2020.