Page 11 - Thomas Simons News Today

The inflation report the government will issue Thursday is expected to show that consumer prices increased 3.3% from 12 months earlier. On a month-to-month basis, consumer prices are thought to have risen 0.2% from June to July, the same as in the previous month, according to a survey of forecasters by the data firm FactSet. A jump in energy prices was likely a major contributor to higher inflation in July.

Consumer prices in the United States are expected to have increased by 3.3% from 12 months ago and by 0.2% from June to July, driven up by more expensive gasoline. Although year-over-year inflation has steadily dropped since peaking at 9.1% in June 2022, factors such as the rebound of service businesses from the COVID pandemic and higher labor costs may contribute to continued inflationary pressures in the months ahead.

Inflation in the United States likely rose in July for the first time in 12 months, driven higher by more expensive gasoline and suggesting that the fight against rising prices may prove bumpier in the months ahead

Breaking News, Sports, Manitoba, Canada

WASHINGTON (AP) — Inflation in the United States likely rose in July for the first time in 12 months, driven higher by more expensive gasoline and suggesting that the fight against rising prices may prove bumpier in the months ahead. The inflation report the government will issue Thursday is expected to show that consumer prices […]

While headline inflation picked up in July on an annual basis from June, the fine print shows price increases are still trending in the right direction for the Fed, economists say.

The inflation figure the government reported Thursday showed that consumer prices increased 3.2% from a year earlier. That was up from a 3% annual rise in June, which was the lowest rate in more than two years. The July inflation figure remained far below last years peak of 9.1%, though still above the Federal Reserves 2% target.

The biggest surge in U.S. prices in 40 years is over, but the fight against inflation is not.

The US housing market took a hit in 2022 as the Federal Reserve’s relentless interest-rate rises made borrowing more expensive. But signs indicate a rejuvenation in market prices as the pace of rate hikes slows and reluctant sellers keep the supply of available properties relatively low, adding to the pressure for new-home construction.

When storms hammered Californias farms last winter, Kevin Kelly knew his small factory outside San Francisco would soon see demand wilt for the plastic bags it churns out for pre-cut salads and other...