Wall Street Edges Higher After Inflation Rises Moderately in July

WALL STREET - NEW YORK. Wall Street's main indexes inched higher on Tuesday after data showed inflation rose broadly in line with expectations in July, putting the Federal Reserve on track to lower interest rates next month.

A Labor Department report showed that the Consumer Price Index (CPI) rose by an expected 0.2% on a monthly basis in July, while on an annual basis it was a touch lower than what economists were projecting, drawing calls from President Donald Trump to lower interest rates.