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Consumer prices remain flat in July

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Consumer prices remain flat in July

“Core” consumer prices increased 0.1% during the month.

The Consumer Prices Index on a seasonally adjusted basis remained flat in July, according to the U.S. Bureau of Labor Statistics, after rising 0.2% in June.

The CPI has increased 0.8% over the last twelve months.

Analysts had expected the CPI to remain flat during the month, and rise 0.9% over the past 12 months.

The index for all items less food and energy, known as “core” CPI, increased 0.1%, after a 0.2% increase in June.

Core CPI has increased 2.2% over the last 12 months.

The lack of price inflation, combined with various economic indicators suggesting a sluggish US economy, will most likely temper the Federal Reserve Board’s aggressiveness in raising interest rates during the remainder of 2016, despite tightening labor markets.

 

 

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