The Labor Department said on Friday its Consumer Price Index advanced 0.2 percent, the bulk of which was due to a rise in the cost of shelter. The so-called shelter index rose 3.5% in the 12 months through July.
The so-called core CPI, which excludes the volatile food and energy categories, rose 0.2% for a third straight month but the annual increase was 2.4%, the largest rise since September 2008.
USA consumer prices rose in July, with a gauge excluding food and fuel costs posting the biggest annual gain since 2008, underpinning expectations that the Federal Reserve will raise interest rates next month.
In the 12 months through July, the CPI increased 2.9 percent, matching the increase in June. Among them were hotel and motel rates, which rose 0.4% after a record decline of 4.1% in June. Airfares jumped 2.7%, the most since July 2013, following a 0.9% drop in June.
Apparel decreased again, dropping 0.3 per cent after falling 0.9 per cent the prior month.
The core CPI reading brought the three-month annualized gain to 2.3 per cent, after rising 1.7 per cent in June.
The Fed has indicated it will stay on a course of gradual rate hikes even if inflation rises above 2%. By making it more expensive to borrow, the Fed would likely tamp down on inflation as well as economic growth, making it more hard for President Donald Trump to achieve the sustained 3% gains in gross domestic product that he has promised voters. Food prices edged up 0.1 per cent after rising 0.2 per cent in June.
Arsenal v Manchester City
More goals , more assists. "What I saw in the last training sessions and Chelsea and Arsenal games is we are still there". The same when we are thinking defensively, I want our strikers to be thinking: "We need to protect the goalkeepers".
That gauge hit the USA central bank's 2 percent target in March for the first time in more than six years and Fed policymakers have said they will not be unduly concerned if it overshoots its target in the coming months.
The labor market is tight, with more job openings than people to fill them, domestic demand is being buoyed by tax cuts and spending, and tariffs will soon raise the price of imported consumer goods.
Indexes for medical care and apparel costs declined, while measures of airline fares, household furnishings and recreation all increased, the report showed.
The Labor Department said its producer price index was unchanged in July after rising by 0.3 percent in June.
The consumer price index is the broadest of three price gauges from the Labor Department because it includes all goods and services. About 60 percent of the index covers the prices that consumers pay for services ranging from medical visits to airline fares, movie tickets and rents.
Information for this article was contributed by Chris Middleton and Andrew Mayeda of Bloomberg News and by Josh Boak of The Associated Press.
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The Armenian worldwide will likely get a start today as Unai Emery will need his players to feed Aubameyang crosses in the match. I think that's something that has always been important for his team, whether he was at PSG or Sevilla.
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We beat Manchester City in the league and the Champions League last season so I think we can beat anyone in the world. You can not create that situation, that's what I mean when I said you can not test the test before you have the test.
Manigault Newman served as special assistant to the president, and was tasked with outreach to the African American community. The former White House aide later described Kelly's comments as "very obviously a threat".
At St James Park yesterday, despite the ongoing shenanigans behind the scenes, the Newcastle United support got behind their team. That goalless August albatross is still around his neck and he will have to use the next few games to play himself into form.
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Koepka Holds 2-stroke Lead; Tiger in Top 6
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Trade Desk Stock Skyrockets on Impressive Q2 Earnings
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Chicken strips recalled due to Listeria risk
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