US inflation remains sticky as consumer demand beats analyst expectations. Durable goods orders reached $339.3 billion in July, jumping 1.1% month-over-month, driven by a 2.3% surge in transportation equipment orders. The Consumer Price Index rose 0.2% monthly and 2.5% annually, in line with forecasts. Retail and food services sales however dipped 0.6% to $763.6 billion, though they remain up 5.0% year-over-year. The probability of a Fed rate hike in September fell to around 35%.
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