Inflation eased last month as energy prices tumbled, according to a report closely watched by the Federal Reserve. See the latest economic numbers.
By PAUL WISEMAN, AP Economics Writer WASHINGTON — Inflation eased last month as energy prices tumbled, raising hopes that a surge in prices increases may have peaked.
People are also reading… On a monthly basis, consumer prices actually fell 0.1% from June to July; core inflation blipped up 0.1%, the Commerce Department reported. In the United States, the Commerce Department's personal consumption expenditures index is less well known than the Labor Department's consumer price index .
Listen now and subscribe: Apple Podcasts | Google Podcasts | Spotify | Stitcher | RSS Feed | Omny Studio CPI has been showing higher inflation than PCE; Last month, for instance, CPI was running at an 8.5% annual pace after hitting a four-decade high 9.1% in June. One reason: The Labor Department's index gives more weight to rents, which have soared this year.
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