U.S. Consumer Prices Rise More Than Expected In July

(RTTNews) - With energy prices showing a significant rebound in the month of July, the Labor Department released a report on Thursday showing that consumer prices increased by much more than expected for the month.

The Labor Department said it consumer price index rose by 0.5 percent in July following a 0.2 percent decrease in June. Economists had been expecting prices to edge up by 0.2 percent. Excluding the jump in energy prices as well as a modest increase in food prices, the core consumer price index rose by 0.2 percent in July after climbing by 0.3 percent in June. The modest increase in core prices came in line with economist estimates.

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