In the U.S, Consumer prices in June rose 3% year-on-year, the lowest level in more than 3 years. Core CPI, which excludes volatile food and energy costs, rose 3.3% YoY, versus an estimated 3.4% increase. Meanwhile, US weekly jobless claims fell 17,000 to 222,000. But, Fed Chair Jerome Powell has indicated that the central bank needs more confidence to loosen monetary policy.
So, amid lowering inflation and a cooling jobs market, are rate cuts in store? On this edition of India Tonight, ET NOW's Sumita Kareer speaks with Ajay Bagga, Market Expert; and Santosh Rao, Head of Research & Partner, Manhattan Venture Partners; to decode this inflation data and its implication.

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