July Inflation Rises, However Weakening Labor Complicates Fed’s Alternative

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Inflation crept again up in July, although not by a lot. The Consumer Price Index (CPI) rose 0.1 p.c final month, a modest reversal after June’s 0.4 p.c decline. The year-over-year charge eased barely, to three.4 p.c from 3.5 p.c.

Core inflation, which excludes meals and power, informed the same story. Core CPI rose 0.2 p.c in July after being flat in June. The year-over-year core charge ticked right down to 2.5 p.c from 2.6 p.c — one other…

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