Wall Street edges higher after US inflation rises slowly in July

Traders work on the floor of the New York Stock Exchange. Photo: Getty

Wall Street's main indexes inched higher yesterday after data showed inflation rose broadly in line with expectations in July, putting the Federal Reserve on track to lower interest rates next month.

A Labour Department report showed that the Consumer Price Index (CPI) rose by an expected 0.2pc on a monthly basis in July, while on an annual basis it was lower than what economists were projecting, drawing calls from US president Donald Trump to lower interest rates.

See Full Page