Inflation Increase in July

SOURCE www.breitbart.com
Inflation picked up in July, but remained cool enough to lock in a rate cut from the Federal Reserve next month. Consumer price index climbed 2.9% from a year earlier. Core inflation rose 0.2%, with energy prices remaining unchanged for the month.

Key Points

  • Consumer price index rose 2.9% from a year earlier.
  • Core inflation excluding food and energy rose 0.2%.
  • Energy prices remained unchanged for the month.

Pros

  • Inflation picking up could indicate economic growth.
  • Stable energy prices can positively impact consumers.

Cons

  • Rising prices may lead to decreased purchasing power for consumers.
  • Core goods prices falling could indicate weakness in certain sectors.