The U.S Commerce Department released the consumer price index for the month of July, where CPI jumped by 0.5% from the drop worth 0.2% in June and up from median estimates of 0.2%, while compared with a year earlier, CPI rose at 3.6%; unchanged from the prior reading yet up from the 3.3% forecasted in the markets.

Core CPI also rose by 0.2% as highly projected while short from the prior estimate worth 0.3%, while compared with a year earlier, core CPI picked up slightly by 1.8% from the prior estimate of 1.6% and median estaimtes of 1.7%.