New Buick Encore SUV's displayed on the sales lot at the Albrecht Auto Group dealership, Tuesday, Aug. 3, 2021, in Wakefield, Mass. Prices for U.S. consumers rose in July at the slowest pace since February, a sign that Americans could gain some relief after four months of sharp increases that had elevated inflation to its fastest pace in more than a decade.
Wednesday’s report from the Labor Department showed that consumer prices jumped 0.5% from June to July, down from the previous monthly increase of 0.9%. They have increased a substantial 5.4% compared with a year earlier. Americans continue to face higher prices, with the year-over-year inflation rate matching June’s increase as the largest annual gain since 2008. At the same time, some recent drivers of the inflation surge slowed last month. The price of used cars, which had soared over the past three months, ticked up just 0.2% in July. Airline fares, which have been spiking, actually declined 0.1% in July.
In response, Powell and the White House have said they believe that the pickup in inflation, which well exceeds the Fed’s 2% annual target, will prove temporary because it stems mainly from supply shortages resulting from the sudden shutdown — and swift reopening — of a $20 trillion economy.
Ugh make rich people wealthier. I am so glad I can afford those rich bishes...
Thanks to Grampa Joe and the Brainless, a terrible new band playing a masked up zoom show in your lockdown forever lives, don’t worry they’ll still be living maskless and making millions while you pinch pennies
Well, THIS month prices are going up even more!!!! Why do we protect Business's pocket book, but not those of the consumers?
While uncle joke looking for his 🧠 in basement 50 cents avocado 🥑 is 3 bucks chipotle has gone up from 8 to 13.50 and old fart 💨 still sniffing on kids neck while searching 4 finger food
What car brand is that? That’s a holden in Australia
A) 'Financial burden'? Not so much. B) What everyone has been saying is happening. Brief rise as supply lines get worked out, followed by leveling off. Hot take...hot take...
Time and again Amnesty International isn't defending human rights in Ethiopia, it is enabling an outlawed terrorist group TPLF succeed in its agenda of undermining Ethiopia's national interest, sovereignty & territorial integrity.
No relief is coming. Inflation about to shoot back up. Gas is up a whopping 50%. Give me a break with this false reporting
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MarketWatch - 🏆 3. / 97 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »
Source: Forbes - 🏆 394. / 53 Read more »
Source: Forbes - 🏆 394. / 53 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »
Source: Forbes - 🏆 394. / 53 Read more »