The latest U.S. inflation figure released on July 12th will tell the central bank where it stands on its mission to bring dramatic price rises down. 

The U.S. Federal Reserve is among the central banks aiming to keep inflation at or around two percent. That target is, in fact, a relatively new concept. And some are starting to question whether central banks should let inflation run higher to give businesses and consumers a breather. 

CGTN's Owen Fairclough reports.

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