Report: Inflation, triggered by pandemic, continues to drive consumer prices up
The news outlet says inflation did slow a bit during July, but showed no signs of disappearing.
With the exception of food and energy items, consumer prices rose 4.3% in the 12 months ended in July, slightly below the June's rise.
Used car and truck prices, which rose rapidly between April and June as Americans looked to vacation, rose only 0.2% in July after an increase of more than 10% in the prior month.
Overall, prices rose 5.4% over the period, flat compared with June, the Bureau of Labor Statistics reported Wednesday.
For the month alone, adjusted for seasonal swings, prices rose 0.5% on the whole and 0.3% stripping out food and energy items, representing a slowdown on both fronts, CNN reports.
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