Consumer prices were up 2.7% in July from a year earlier, unchanged from June’s gain

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In July, headline consumer price inflation in the UK rose at an annual rate of 3.8 per cent, above market expectations of a 3.7 per cent rise and stronger than June’s 3.6 per cent increase. It was in line with BoE expectations.

After somewhat positive inflation data in July, the chances of the Federal Reserve cutting interest rates in September are at roughly 83%, according to CME Group 's FedWatch tool calculations on Aug. 18. One month earlier, roughly 59% of traders betting on changes in the federal funds rate thought an interest rate cut would occur in September.

Consumer price inflation in France was stable in July and met analysts' expectations and the preliminary reading, statistics office INSEE said on Thursday.

The cost of wholesale goods and services — where rising inflation tends to show up first — in July posted the biggest increase in three years, possibly heralding a sizable acceleration in price increases tied to higher U.

The Bureau of Labor Statistics reported the producer price index jumped more than expected in July, spurring renewed concerns about inflation's economic impact.

Wall Street's main indexes eased on Thursday, after a hotter-than-expected producer prices report dampened investor expectations of potential interest-rate cuts by the Federal Reserve this year.