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Home – Inflation News – US Consumer Prices Increase as Expected in July

US Consumer Prices Increase as Expected in July

U.S. consumer prices increased slightly in July, potentially weakening the argument for an interest rate increase from the Federal Reserve next month.

The Consumer Price Index edged up 0.1% last month after dropping 0.4% in June, which was the first decline in six years, the Labor Department’s Bureau of Labor Statistics said on Wednesday.

In the 12 months through July, the CPI advanced 3.4% after rising 3.5% in June. Excluding the volatile food and energy components, the CPI gained 0.2% last month after being unchanged in June. The so-called core CPI increased 2.5% in the 12 months through July after climbing 2.6% in June. 

Economists polled by Reuters had forecast the CPI rebounding 0.1% and core inflation rising 0.2% over the month.

The U.S. central bank tracks the Personal Consumption Expenditures........

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