Consumer prices rose 8.5% in July, less than expected as inflation pressures ease a bit

Posted on AllSides August 10th, 2022
From The Center
Spencer Platt | Getty Images

Prices that consumers pay for a variety of goods and services rose 8.5% in July from a year ago, a slowing pace from the previous month due largely to a drop in gasoline prices.

On a monthly basis, prices were flat as energy prices broadly declined 4.6% and gasoline fell 7.7%. That offset a 1.1% monthly gain in food prices and a 0.5% increase in shelter costs.

Economists surveyed by Dow Jones were expecting headline CPI to increase 8.7% on an annual basis and 0.2% monthly.

Excluding volatile food and...

Read full story
Some content from this outlet may be limited or behind a paywall.

CNBC

AllSides Media Bias Rating: Center
AllSides Media Bias Rating: Center
107929/84796
See full bias rating for CNBC
Learn about media bias
https://www.cnbc.com/2022/08/10/consumer-prices-rose-8point5percent-in-july-less-than-expected-as-inflation-pressures-ease-a-bit.html

More News about Economy and Jobs from the Left, Center and Right

From the Left

From the Center

From the Right