Consumer prices rose more quickly than expected in July as gasoline reversed a two-month decline and the cost for rent continued to climb. The consumer price index for all items was up 0.3% for the month, against expectations for a 0.2% increase. Gasoline rose 2.5% while shelter costs increased 0.3%.

The ongoing tariff trade war between China and the US took an unexpected twist last night when the US announced a delay to increases on some products.

The number of Americans filing applications for unemployment benefits unexpectedly fell last week, suggesting the labor market remains strong even as the economy is slowing.

U.S. consumer spending and prices rose moderately in June, pointing to slower economic growth and benign inflation that could see the Federal Reserve cutting interest rates on Wednesday for the first time in a decade.

The IHS Markit Manufacturing Purchasing Managers’ Index fell to 50.4 in July, down from 50.6 in June, driven by a weaker demand. The firm also noted managers’ signaled slower hiring.

U.S. import prices fell by the most in six months in June, pulled down by declines in the costs of petroleum and other goods, suggesting imported inflation remained subdued. The Labor Department said on Tuesday import prices dropped 0.9% last month, the biggest decrease since December. Data for May was revised up to show import […]

Filings for U.S. unemployment benefits declined to a 12-week low, underscoring the Federal Reserve’s view that a robust labor market is underpinning economic expansion.