The Bureau of Labor Statistics reported the July consumer price index which showed CPI inflation continued to rise as tariffs push prices higher for U.S. businesses and consumers.

Nevertheless, some rate-setters at the BoJ have said that persistently high rice prices may prompt second-round effects in the coming months, indicating that they may be willing to consider raising rates in response to persistently high inflation even if the main driver is food.

Massive downward revisions in July's jobs report last week fueled concerns that the labor market is softening too quickly, strengthening the case for rate cuts. But the hotter-than-anticipated inflation data could suggest the need for more restraint.

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

Japan's core inflation slowed for a second straight month in July but stayed above the central bank's 2% target, keeping alive market expectations for another interest rate hike in the coming months.

The Producer Price Index saw its biggest monthly gain since June 2022, the Bureau of Labor Statistics said Thursday.

Minutes of the Federal Reserve’s July meeting show widespread concern over the slowing economy and the impacts of import tariffs.

Headline inflation also came down to 3.1% from 3.3% in June. Core inflation also dropped to 3.1% from 3.3%. The so-called "core-core" inflation rate, which strips out prices of both fresh food and energy,

South Africa's headline consumer inflation rose to 3.5% year-on-year in July from 3.0% in June, in line with economists' expectations.

UK inflation climbed for a second month in July, adding pressure on the Bank of England to reconsider its pace of interest-rate cuts.

The Bank of England currently expects inflation to hit 4% in September, the all-important month for pensioners. Wage growth is currently slightly higher than this at 4.6% (including bonuses), although it could shift slightly in next month's report.