(RTTNews) - Consumer prices in the U.S. crept slightly higher in the month of July, according to a closely watched report released by the Labor Department on Wednesday.
The Labor Department said consumer prices inched up by 0.1 percent in July after falling by 0.4 percent in June. The uptick in consumer prices matched economist estimates.
The report also said core consumer prices, which exclude food and energy prices, rose by 0.2 percent in July after coming in unchanged in June. The increase in core prices also matched expectations.
The annual rate of growth by consumer prices edged down to 3.4 percent in July from 3.5 percent in June, while the annual rate of growth by core consumer prices slipped to 2.5 percent in July from 2.6 percent in June. The modest slowdowns also came in line with estimates.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
