US Consumer Prices show 5.4% Annual increase in July 2021

Zack William12 Aug, 2021News

US consumer price gains remained hot as the economic recovery continued to take hold. The Labor Department said Wednesday that consumer prices rose 5.4% year over year in July, matching the prior month’s gain was the fastest since August 2008. Prices increased 0.5% last month, slowing from June’s 0.9% increase. Analysts surveyed by Refinitiv were expecting a 0.5% gain. Core prices, which exclude food and energy, rose 0.3% month over month and 4.3% annually. In June, core prices increased 0.9% and 4.5%, respectively.