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Weak US inflation, retail sales data dim rate hike prospects

However, US economy likely regained speed in Q2 after sluggish performance at the start of the year

Reuters  |  Washington 

USconsumerpriceswereunchangedinJuneandretailsalesfellforasecondstraightmonth,pointingtotameinflationandsoftdomesticdemandthatdiminishedprospectsofathirdinterestrateincreasefromtheFederalReservethisyear. Still,theeconomylikelyregainedspeedinthesecondquarterafterasluggishperformanceatthestartoftheyear.OtherdataonFridayshowedindustrialproductionpickedupinJune,drivenbyasurgeinoilandgasdrilling. "Today'sreportsimplythattheFedwillgoveryslowlynormalisingrates,butitalsomeansthat ...

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First Published: Fri, July 14 2017. 23:11 IST
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