Published
US inflation decelerated in July by more than expected, reflecting lower energy prices, which may take some pressure off the Federal Reserve to continue aggressively hiking interest rates.
The consumer price index increased 8.5% from a year earlier, cooling from the 9.1% June advance that was the largest in four decades, Labor Department data showed Wednesday.
But inflation is still harming many families' ability to feed themselves.
Prices were unchanged from the prior month. A decline in gasoline offset increases in food and shelter costs.
Al Jazeera’s Rosiland Jordan reports.
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#USInflation #CPI #FederalReserve #Inflation
The consumer price index increased 8.5% from a year earlier, cooling from the 9.1% June advance that was the largest in four decades, Labor Department data showed Wednesday.
But inflation is still harming many families' ability to feed themselves.
Prices were unchanged from the prior month. A decline in gasoline offset increases in food and shelter costs.
Al Jazeera’s Rosiland Jordan reports.
Subscribe to our channel: http://bit.ly/AJSubscribe
Follow us on Twitter: https://twitter.com/AJEnglish
Find us on Facebook: https://www.facebook.com/aljazeera
Check our website: http://www.aljazeera.com/
Check out our Instagram page: https://www.instagram.com/aljazeeraenglish/
#USInflation #CPI #FederalReserve #Inflation
- Category
- World
- Tags
- CPI, Joe Biden, US Labor Department data
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