Morning Economic Report 7-17-25

Economy update

Consumer prices in the common currency area increased 2% in June compared to the same month of 2024. The rise was 2.4% excluding energy and unprocessed food. Financial markets are relatively calm after Trump’s assurance that he does not intend to fire the Fed chair. Japanese exports are down for the second successive month. The afternoon’s US jobless and retail sales data will give further indications on the impact of tariffs. NBC News reports that only one of Iran’s three nuclear sites was destroyed in last month’s US bombing.