In July, the US CPI increased by 2.7% year-on-year. It is widely expected that the Federal Reserve will likely cut interest rates in September.

Data released by the U.S. Department of Labor on the 12th showed that in July this year, the U.S. Consumer Price Index rose by 2.7% year-on-year, excluding the volatile prices of food and energy, the core CPI rose by 3.1% year-on-year in July. Observers pointed out that as business inventories decrease, more goods bearing high tariffs enter the U.S. consumer market, gradually pushing up prices of clothing, footwear, furniture, and household goods. Goldman Sachs, a Wall Street investment bank, predicts that by December this year, the year-on-year increase in the U.S. core CPI and core personal consumption expenditure price index will rise to 3.3%. Currently, it is widely expected that the Federal Reserve will likely cut interest rates in September, mainly due to signs of cooling in the U.S. job market. However, Federal Reserve officials still emphasize that they will base monetary policy decisions on the latest data and approach rate cuts cautiously.