According to CoinMeta, the latest data shows that U.S. consumer prices rose slightly by 0.1% in July, in line with market expectations. This data may weaken market expectations for a Fed interest rate hike in September. The Consumer Price Index (CPI) released by the U.S. Department of Labor on Wednesday shows that prices rose month-on-month in July, following a 0.4% decline in June. Economists expect that due to rising oil prices, the pace of consumer price increases may accelerate in August. Although the cooling of inflation data in July may reduce market expectations for a hike, high living costs are still affecting consumer confidence and could impact the Republican Party's performance in the mid-term elections in November.