Annual US inflation remained steady in July, exceeding the Federal Reserve's target of 2%. This marks the 65th consecutive month that inflation has been above this goal. The pause in the decline from a recent peak, induced by a war, was unexpected.

This development is likely to affect the central bank's discussions. The Federal Reserve has a target inflation rate, and the current inflation rate is well above it.

Further information on the implications of this steady inflation rate and the Federal Reserve's potential response can be found in the report.