Consumer price inflation staged a return in July and beat economists' expectations. Even though this means prices for consumers rose on the whole, it is a good sign because it comes after the largely deflationary shock of the pandemic.Bureau of Labor Statistics
reported Wednesday. Together, the summer month increase puts a solid end to three months of price declines during the height of the pandemic lockdown. Over the past twelve months, prices increased by 1%, not adjusted for seasonal effects. Gas and energy prices, which soared in June, continued to increase. Gasoline prices alone contributed about a quarter of the monthly price rise last month.
Meanwhile, food prices actually declined by 0.4%, and the 'food at home' index fell 1.1%. The 'food away from home' index rose 0.5%, showing that, which strips out more volatile food and energy items,Moderate inflation is important for a functional growing economy.
SayHisName Cannon Hinnant When will you cover this CNN?
Weird, CNN didn’t mention the 7 day winning streak until now. You think they might be rooting for a recession
You actually report good news?
Looking forward to a strong Biden/Harris government and healthy economic response.
Nobody cares.
Stocks Valued Today, more at 11
Biden/Harris campaign slogan... 'Mass Incarcerate America Again
Dow was 16,000 went Obama left, it's now close to 28,000. Almost 12,000 gain.
“…REPUBLICANS and DEMOCRAT LAWMAKERS OPPOSED THE ARMS DEAL.”
There were losses on the day DementiaJoe announced HeelsUpHarris for VP?
The Stock Market is being propped up by the Fed to the tune of trillions of dollars of taxpayer money. This is to make the billionaires happy and bloated with incalculable sums. The rest of us can just starve to death thanks to Trump.
Wall Street really doesn’t reflect what is really going on does it?
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