AI Data Insight
In July 2026 (Q3), the US non-food CPI index climbed to 332.564, a slight increase of 0.36% from the previous value of 331.383, and a year-over-year increase of approximately 3.51%. The overall trend is largely in line with market expectations of slowing inflation. Benefiting from a downward trend in energy prices, overall price pressure has eased somewhat, but the rebound in AI-related technology goods and supercore services remains sticky. Looking ahead, the probability of the Federal Reserve holding interest rates steady in September has greatly increased. In the short term, the market still needs to watch for the impact of Middle East geopolitics on oil prices.