US headline CPI rose 0.6% mom in July, above expectation of 0.4% mom. CPI core rose 0.6% mom, also above expectation of 0.2% mom. Annually, CPI accelerated back to 1.0% yoy, up from 0.6% yoy, beat expectation of 0.8% yoy. CPI core picked up to 1.6% yoy, up from 1.2% yoy, also beat expectation of 1.6% yoy.

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