US inflation eases as food costs cool
US prices rose 3.4% in the year to July, slightly lower than the 3.5% in the year to June, new figures show. Month to month
US prices rose 3.4% in the year to July, slightly lower than the 3.5% in the year to June, new figures show. Month to month, inflation rose 0.1%, mainly due to an increase in housing costs, the Bureau of Labor Statistics said.
Even small moves in rent can lift the overall headline figure as it makes up a large share of household spending. Food prices rose only
slightly in July and at a slower rate than in June, while energy prices fell, offering some relief for consumers. Prices excluding food and energy
rose 0.2% after staying flat in June, with medical care and airline tickets becoming a bit more expensive and car insurance falling.
The BriefWire