Diving into the latest US inflation insights from July.

Diving into the latest US inflation insights from July.

US inflation πŸ“ˆ took another leap in July

Despite significant efforts to curtail it.

The primary culprits?

Rising costs in 🏠 housing , πŸš— car insurance , and πŸ” food. The inflation rate touched 3.2% over the year to July.

This was a jump from June’s 3%, which was the lowest in over two years. An expected hike, given last July’s soft inflation.

However, there’s a silver lining!

Some indications suggest that price surges might be settling down.

Expert Opinions:

“Underlying inflation is heading in the right direction.” – Hussain Mehdi, HSBC Asset Management

US central bank’s action?

They’ve raised the benchmark interest rate to a staggering 5.25%, a 22-year high, to counteract inflation.

A concern?

Rising fuel prices. A gallon of regular gas in the US went up by around 30 cents in a month.

Belief!

On the brighter side, housing costs, a major component in US inflation, are projected to stabilize soon.

Closing Thoughts:

With over 20 years in the banking industry, I’ve seen financial waves come and go. While times seem turbulent, remember that economies are resilient. Stay informed, stay positive, and trust the process. Together, we’ll navigate these waters.


Digging deep on banks is what I do.

πŸ”” Follow Brian on Linkedin: Brian Pillmore

Learn more on this topic

Related Insights

The Numbers that Matter to Banks

The Numbers that Matter to Banks

Revenue Growth It's a key measure of a bank's performance.Higher growth indicates more earnings and potential expansion. Net Interest Margin This KPI reflects the profitability of a bank's core activities. A higher NIM means more profit from lending. Loan to Deposit...

Shattering the Silence on Asset Quality Concerns

Shattering the Silence on Asset Quality Concerns

In a world rocked by economic turbulence - the pandemic, for one - the banking sector finds itself on a tightrope. Balancing asset quality, potential loan defaults, and the integrity of balance sheets has become the new normal. Enter BIAS: Bank Intelligence and Action...

How can technology revolutionize traditional banking?

How can technology revolutionize traditional banking?

While navigating the dynamic landscape of banking and finance, we often come across a common question - How can technology revolutionize traditional banking? The digital revolution is transforming the way we handle our finances. The proliferation of mobile banking and...