Washington: The annual inflation rate in the US eased to 3.4% in July, down from 3.5% in June in line with market expectations.

According to Anadolu Agency, the monthly inflation rate was at 0.1% last month, up from minus 0.4% in June, as revealed by official figures from the Bureau of Labor Statistics on Wednesday.

In May, the annual inflation rate reached its highest since April 2023, climbing to 4.2%. Among the sub-indexes, energy recorded the highest increase with a 14.7% hike, while food inflation was at 3%.