Posted on 08/10/2022 7:12:41 AM PDT by John W
Inflation eased slightly last month but held near its highest level in four decades even as gas prices fell and supply chains improved. The Bureau of Labor Statistics' latest Consumer Price Index (CPI) reflected a year-over-year increase of 8.5% in July, down from the prior month's 40-year high of 9.1%. Consensus economists were expecting last month's reading to show an 8.7% increase, according to estimates compiled by Bloomberg.
Core CPI, which excludes the volatile food and energy components of the report, remained firm, rising at an annual 5.9%, unchanged from June's figure.
The gasoline index fell 7.7% in July, marking the largest month-over-month drop in this component of the report since April 2020. A downward trend in gasoline prices over more than 50 consecutive days provided some relief to U.S. consumers last month after record energy costs pushed inflation to the highest reading of the cycle in June, but inflationary pressures remained strong across other components of the report.
(Excerpt) Read more at stocks.apple.com ...
Correct about Yahoo. Always lies.
They’re one of the worst
Pulling up yahoo page its all instantly Huff Post and other like garbage.
oh whew, cost on everything still at 8.5% even after government cooked, lying numbers. so encouraged
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