Fed's inflation target elusive as July consumer prices up only 0.1%
Policymakers have twin goals of maximum sustainable employment and inflation of around 2 per cent
Add BT as a preferred source
Washington
THE cost of living in the US rose in July at the slowest pace in three months, casting doubt on how quickly inflation will return towards the Federal Reserve's goal.
The consumer price index climbed 0.1 per cent after a 0.3 per cent gain the month before, a Labor Department report showed on Wednesday in Washington. The median forecast of 78 economists surveyed by Bloomberg projected a 0.2 per cent increase. Excluding food and fuel, costs also rose less than projected.
TRENDING NOW
Xi Jinping has just rewritten the rules of US-China rivalry
Singapore developer in limbo after Timor-Leste scraps major township project
‘Whole deck of cards just toppled’: FoodXervices’ Nichol Ng on how a 92-year-old family business unravelled – and what’s next
Indonesia plans to beat global commodity trading giants at their own game
