Annual inflation in the U.S. in June, according to the data released yesterday, reached a new record high for 41 years - 9.1%. Against this background the American stock market ended the session with the Dow Jones losing 0.67%, S&P 500 - 0.45%, NASDAQ - 0.15%.

The results did not meet the expectations of analysts who predicted the figure of 8.8%. In the previous month, by comparison, it was 8.6%. In monthly terms, price growth in June reached 1.3%, which was also worse than forecasts (1.1%). According to Cliff Hodge, Senior Director for Investments at Cornerstone Financial, as cited by Bloomberg, the Federal Reserve has no alternative but to tighten monetary policy, but it increases the risk of recession in 2023. The budget deficit in June was also worse than forecast - $88.842 billion versus $76.5 billion.

Gold prices were up 0.71% by Wednesday night on the Comex, rising to $1736.90 per troy ounce. In addition to record inflation and the risk of recession, a decline in U.S. government bond yields contributed to this.