Arab Today, arab today us inflation tame despite food price rises
Last Updated : GMT 19:10:18
Arab Today, arab today
Arab Today, arab today

US inflation tame despite food price rises

Arab Today, arab today

Arab Today, arab today US inflation tame despite food price rises

supermarket in Monterey Park, California
Washington - AFP

Consumer prices in the United States rose a bare 0.1 percent in July despite strong gains in food costs, the Labor Department reported Tuesday.
The slowdown in consumer inflation after three months of faster gains left the year-on-year consumer price index (CPI) up 2.0 percent, a level the Federal Reserve's monetary policy makers have regarded as non-threatening.
Food prices were up 0.4 percent in the month, continuing a high pace of increases since February which are hitting American shoppers in the wallet. Food costs were 2.5 percent higher than a year ago.
But offsetting that has been a fall in energy prices, with gasoline prices now 0.8 percent down from  a year ago.
Less energy and food, both more volatile components of the index, CPI was up 0.1 percent for the month and 1.9 percent over 12 months.

 

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