Inflation Edged Up Slightly in July
August 11, 2023
The consumer-price index rose 0.2% for the month, and the 12-month all items index increased 3.2%.
The consumer-price index rose 0.2% for the month, and the 12-month all items index increased 3.2%.
The increase was slower than the average monthly pace for the first half of the year and below the roughly 400,000 average monthly gain in 2022.
The federal funds rate increases to 5.5%, the highest in 22 years, while the economy grew by 2.4% in the second quarter.
The Consumer Price Index leveled off at 3% compared with a peak of 9.1% in June 2022, though inflation remains above the Fed’s 2% target.
A key indicator of U.S. consumer confidence rose for the first time in four months in August as the economy added 315,000 jobs.
Still, U.S. builders remain largely optimistic despite ongoing constraints with the supply chain and workforce, as well as yesterday’s interest rate hike.
The Department of Labor said gains were recorded in leisure and manufacturing segments, and the nation has now restored the total pandemic job losses.
Consumer Price Index results may indicate that inflation has peaked, and Producer Price Index data was below market expectations.
The Department of Labor said employment grew in the manufacturing, transportation and leisure sectors.
The Federal Reserve said more rate increases will be necessary until inflation comes down
The consumer-price index rose 0.2% for the month, and the 12-month all items index increased 3.2%.
The increase was slower than the average monthly pace for the first half of the year and below the roughly 400,000 average monthly gain in 2022.
The federal funds rate increases to 5.5%, the highest in 22 years, while the economy grew by 2.4% in the second quarter.
The Consumer Price Index leveled off at 3% compared with a peak of 9.1% in June 2022, though inflation remains above the Fed’s 2% target.
A key indicator of U.S. consumer confidence rose for the first time in four months in August as the economy added 315,000 jobs.
Still, U.S. builders remain largely optimistic despite ongoing constraints with the supply chain and workforce, as well as yesterday’s interest rate hike.
The Department of Labor said gains were recorded in leisure and manufacturing segments, and the nation has now restored the total pandemic job losses.
Consumer Price Index results may indicate that inflation has peaked, and Producer Price Index data was below market expectations.
The Department of Labor said employment grew in the manufacturing, transportation and leisure sectors.
The Federal Reserve said more rate increases will be necessary until inflation comes down
