US Inflation Eases to 3.4 Percent in July, Global Gold Jumps Above $4,424

According to official US Bureau of Labor Statistics data published by Trading Economics on Wednesday, August 12, 2026 (21 Mordad 1405), the US annual inflation rate eased for a second straight month to 3.4 percent in July, down from 3.5 percent in June. Core inflation also cooled, to 2.5 percent. The monthly Consumer Price Index rose 0.1 percent, driven mainly by a 0.1 percent rise in shelter costs, while gasoline prices fell 2.9 percent.

The cooler inflation reading strengthened bets that the Federal Reserve will hold off on further rate hikes and lifted global gold. According to Sahmino's own price tracking, spot gold rose 1.24 percent to $4,424.35 an ounce around 7pm Tehran time, up from about $4,399 earlier the same day. Silver, platinum and palladium each gained more than 1.5 percent. On Wall Street, the S&P 500 rose 0.18 percent to 7,742 points, nearing its record high, while the Nasdaq gained almost 1 percent on strong AI sector earnings.