US CPI rises for second consecutive month

12 August 2020

 

Summary:  July CPI increase double expected figure; both headline and core figures record large monthly increase; “virus still raging in the US”, “may be some time” before sustained improvement in activity; fuel prices, car insurance premiums up but higher prices of vehicles, clothing and domestic airfare responsible for surprise; Fed unofficial estimate of underlying inflation ticks up.   The annual rate of US inflation as measured by changes in the...

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