US consumer prices were unchanged in June and retail sales fell for a second straight month, pointing to tame inflation and soft domestic demand that diminished prospects of a third interest rate increase from the Federal Reserve this year. Still, the economy likely regained speed in the second quarter after a sluggish performance at the start of the year. Other data on Friday showed industrial production picked up in June, driven by a surge in oil and gas drilling. "Today's reports imply that the Fed will go very slowly normalising rates, but it also means that ...
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