Page 80 - Jeffrey Roach News Today

The pace of sales at U.S. retailers was unchanged last month as persistently high inflation and rising interest rates forced many households to spend more cautiously.

Persistently high inflation and rising interest rates forced many households to spend more cautiously.

Javier Ghersi/Getty Images(NEW YORK) -- Lower-than-expected inflation rates last week sent the S&P 500 soaring to its highest level in three months, reflecting optimism that price increases have peaked as businesses and consumers seek relief from budget-busting costs. While still elevated, price hikes last month waned from the near-historic pace reached in June, according to a release from the Bureau of Labor Statistics on Wednesday. The consumer price index, or CPI, rose 8.5% over the past ...

While still elevated, price hikes last month waned from the near-historic pace.

U.S. import prices posted their first decline in seven months in July, helped by a strong U.S. dollar ...

U.S. import prices fell for the first time in seven months in July, helped by a strong dollar and lower fuel and nonfuel costs, while consumers one-year inflation outlook ebbed in August, the latest

Data this week continues to indicate that prices pressures in the United States may have peaked.

By Lindsay Dunsmuir

Inflation as measured by producer wholesale prices slowed to 9.8% for the year ending in July.

Imported fuel prices dropped 7.5% last month after surging 6.2% in June. Petroleum prices declined 6.8%, while the cost of imported food fell 0.9%, the largest one-month drop since November 2020 and third straight month of abatement.