Economics

Year to year inflation in the US remained unchanged at 2.7% in July. As an increase had been expected this results was welcomed by the markets. It was not enough to prompt the Fed to reduce interest rates but poor job creation figures, which followed, increase the likelihood of one at the next meeting. Meanwhile in the EU inflation also remained constant but at the reduced level of 2.0% and in Ireland, likewise, the Harmonised rate remained at 1.6%. However, that includes a fairly brisk increase in food prices which makes the inflation situation difficult for the average consumer (even if the overall is moderated by falling energy prices)..