US consumer prices inch up in July


Values in the US rose by less than expected last month, as inflation in the concision remained tame.

The Labor Department’s Consumer Price Index (CPI) inched up 0.1% remain month, only a slight improvement on a stagnant June figure.

Economists record by Reuters had expected a 0.2% month-on-month increase.

The dollar fell on the inflation text, as markets felt it made the prospects of further rate rises undersized likely.

The annual rate of inflation rose to 1.7%, up from 1.6% in June.

Inflaming medical care costs, housing and food pulled the CPI up in July, after no mutation in June and May’s 0.1% dip.

Prices for meat had their largest one-month gather in almost three years, adding 1%. Prescription drug assays rose 1.3% in July after increasing 1% in the prior month.

The US Federal Guardedness has a 2% inflation target for the world’s largest economy, although the gage that it tracks is currently at 1.5%.

The Fed has raised interest rates twice this year, and there is rumination that the bank will lift rates again before the end of 2017.

Leave a Reply

Your email address will not be published. Required fields are marked *