US Consumer Prices Rose In July But At Slower Pace

In this Nov. 10, 2020 photo, a shopper stands by a display of Samsung 65-inch televisions in a Costco warehouse in Sheridan, Colo. U.S. consumer confidence posted a gain in January, helped by a rise in expectations about the future. The Conference Board reported Tuesday, Jan. 26, 2021, that its consumer confidence index increased to 89.3, a rebound from December when it had fallen to a reading of 87.1. (AP Photo/David Zalubowski)

(AP) — Prices for U.S. consumers rose last month but at the slowest pace since February, a sign that Americans could gain some relief after four months of sharp increases that elevated inflation to its fastest pace in more than a decade. Wednesday’s report from the Labor Department showed that consumer prices rose 0.5% from June to July, slower than the previous monthly increase of 0.9%. They have jumped 5.4% compared with a year earlier. Excluding volatile oil and gas prices, so-called core inflation rose 4.3% in the past year, down from 4.5% in June, which was the fastest 12-month pace since 1991.

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