Todays Important Data for Bullion Market [10-Aug-2022]

Todays Important Data for Bullion Market

Annual inflation rate in the US likely slowed to 8.7% in July of 2022 from 9.1% in June, which was the highest reading since November of 1981. Gasoline prices increased nearly 44% year-on-year in July, much slower than a 60% jump in June and airfares are seen easing while other components including food and rents likely remained elevated. Core inflation, which strips out more volatile food and energy prices, is expected to accelerate to 6.1% from 5.9%, pausing three months of a slowdown, and confirming high inflation is spreading throughout the economy. Compared to the previous month, the CPI likely rose 0.2%, after a 17-year high rate of 1.3% and the core one is expected to record a smaller increase of 0.5% compared to 0.7%.