Recent inflation data indicates a continued cooling trend in both consumer and wholesale prices, bolstering the case for the Federal Reserve to consider cutting interest rates in September. The U.S. Consumer Price Index (CPI) for July showed an annual increase of 2.9%, slightly below the expected 3%, while core CPI matched expectations at 3.2%. The Producer Price Index (PPI) also revealed a modest 0.1% monthly rise, contributing to a year-over-year increase of 2.2%. In the UK, inflation rose to 2.2%, just below forecasts, driven by a slowdown in services inflation. Wall Street reacted positively, with major indexes gaining as investors anticipate potential rate cuts to stimulate economic growth.