• US CPI inflation slows to 5%, the largest single drop in inflation this cycle
• Core inflation remains high, with services inflation above 7%
• DXY index sinks to its lowest level in over a year
US Inflation Slows
The US Consumer Price Index (CPI) inflation rate has dropped from 6% to 5%, its largest single drop in the current economic cycle. The energy sector also experienced deflation for the first time since 2021.
High Core Inflation
Despite the overall decline, core inflation remains high, with services inflation rate at 7%. This is causing uncertainty regarding credit availabilities in both short and medium term.
China and Russia Also Experience Inflation Drops
In addition to the US, China and Russia have seen their own drops in inflation as well. The US Dollar (DXY) index has dropped to its lowest point in over a year as a result of these changes.
Implications for Global Economy
These shifts could potentially cause an alteration of global currency values, leading to large-scale effects on the world economy. To get a better understanding of how these changes will shape our future, it is important to keep up-to-date with news surrounding these developments.
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