dashboard



Runaway consumer prices took a breather in July, fueling hopes that inflation has peaked

Runaway consumer prices took a breather in July, fueling hopes that inflation has peaked



Online shopping prices are starting to ease. Here's why that's significantReplayMore Videos ...

Online shopping prices are starting to ease. Here's why that's significant 01:51 (CNN)Runaway inflation took a breather in July, with consumer prices increasing by 8.5% year over year, a slower pace than the 9.1% increase in June, the Bureau of Labor Statistics reported Wednesday.

On a month-to-month basis, prices held steady, compared to the 1.3% increase in June.Core inflation, which does not include volatile food and fuel components, was unchanged on a year-over-year basis after June's 5.9% jump. Months' worth of elevated numbers for the Consumer Price Index, which covers a wide array of goods and services Americans buy, pose a growing challenge for the Federal Reserve, which has committed to reining in soaring prices while trying to avoid plunging the economy into a recession. This story is developing and will be updated.


Click Here To Get Funded!