Consumer prices little changed in July as fuel costs retreat
Subdued inflationary pressures likely to prompt Federal Reserve to keep interest rates low
Add BT as a preferred source
Washington
THE US cost of living was little changed in July, a sign that subdued inflationary pressures will give Federal Reserve policymakers reason to keep interest rates low.
It was the first time in five months the Consumer Price Index (CPI) failed to advance and followed a 0.2 per cent gain in June, Labor Department figures showed on Tuesday in Washington. Excluding food and energy, prices rose 0.1 per cent, less than projected.
TRENDING NOW
DeepSeek founder Liang Wenfeng becomes the world’s richest AI model creator
A new kind of ‘ceasefire’ between US and Iran where talks, strikes are part of the same process
Early payout from Philippines’ Maharlika Investment Fund raises eyebrows over its true nature
Family businesses fail when members overstep their roles
