Consumer price inflation in the United States was the lowest since before the war, and the probability of rising interest rates declined

THE UNITED STATES CONSUMER PRICE INDEX (CPI) EXPERIENCED AN ANNUAL INCREASE OF 3.4 PER CENT IN JULY, DOWN FROM 3.5 PER CENT IN JUNE, TO ITS LOWEST LEVEL SINCE THE PRE-WAR PERIOD. IN JULY, THE CPI RING INCREASED BY 0.1 PER CENT TO MEET MARKET EXPECTATIONS. ENERGY PRICES DECLINED BY 1.5 PER CENT IN JULY, WHILE HEALTH SERVICES ROSE BY 0.4 PER CENT. IN ADDITION, THE HOUSING INDEX ROSE BY 0.1 PER CENT IN JULY, ACCOUNTING FOR ABOUT TWO THIRDS OF ALL MONTHLY PROJECT GROWTH. OVERALL, UBS STATES THAT TODAY ' S REPORT IS CONSISTENT WITH MARKET EXPECTATIONS, SUGGESTING THAT INFLATION IN THE UNITED STATES IS GRADUALLY FALLING AFTER PEAKING IN MAY, ALTHOUGH THE PROCESS MAY BE UNEVEN。