Muted US inflation 'making Fed rate hike less likely'

US consumer inflation data slowed slightly to 3.4 percent in July. This could provide the US Federal Reserve with a crucial bit of breathing room on interest rates. Despite highly turbulent oil prices caused by the ongoing war in Iran, the latest figures show consumer prices ticked up by just 0.1 percent from a month earlier. Samira Hussain has been speaking to Ron Sanchez, Chief Investment Officer of Fiduciary Trust International, about what has been driving the data.