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U.S. Consumer Prices Increase In Line With Estimates In July
(RTTNews) - A highly anticipated report released by the Labor Department on Thursday showed U.S. consumer prices increased in line with economist estimates in the month of July.
The Labor Department said its consumer price index rose by 0.2 percent in July, matching the uptick seen in June as well as expectations.
The report also said the annual rate of growth by consumer prices accelerated to 3.2 percent in July from 3.0 percent in June. Economists had expected the pace of price growth to accelerate to 3.3 percent.
Excluding food and energy prices, core consumer prices also rose by 0.2 percent for the second straight month in July, in line with estimates.
Meanwhile, the annual rate of growth by core consumer prices slowed to 4.7 percent in July from 4.8 percent in June. The rate of growth was expected to be unchanged.
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