Asia markets mixed as US inflation cools more than expected

04:40

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Asia Pacific

Asia markets mixed as US inflation cools more than expected

Asian stocks are mixed this morning after US CPI print came in lower than expected. July consumer prices gained 3.2% on an annual basis, less than the 3.3% consensus from economists. Prices increased monthly 0.2%, as expected. Despite this, the core inflation rate - which strips out food and energy - is still high, standing at 4.7% (still the lowest reading since October 2021 and slightly lower than expected). But investors are now hoping to see a soft landing in the fight against inflation, meaning a gradual slowdown in growth that would altogether avoid a recession.