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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 year's peak of 9.1%, though still above the Federal Reserve's 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 California's 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...