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U.S. JULY CPI RISES 3.4% YEAR-OVER-YEAR — CORE INFLATION COOLS TO 2.5%
U.S. consumer prices rose 0.1% in July, rebounding from a 0.4% decline in June. On a year-over-year basis, the Consumer Price Index (CPI) increased 3.4%, easing slightly from June’s 3.5% annual rate. Core CPI, which excludes volatile food and energy prices, rose 0.2% month-over-month and 2.5% year-over-year, down from 2.6% in June. Shelter costs were the primary driver of July’s increase, accounting for roughly two-thirds of the monthly rise in overall inflation. Food prices edged higher, while falling energy costs — particularly gasoline prices — helped limit broader inflationary pressure.
PAKISTAN: U.S.–IRAN MOU DEADLINE COULD BE EXTENDED AS PEACE TALKS REMAIN STALLED
Pakistan’s Foreign Ministry said the 60-day memorandum of understanding (MOU) between the United States and Iran could be extended as its current deadline approaches. However, officials said the broader peace negotiations remain deadlocked, with little progress toward a wider agreement. Pakistan added that it hopes both Washington and Tehran will return to the negotiating table as soon as possible and resume diplomatic efforts. Source: Bloomberg