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Report: Inflation, triggered by pandemic, continues to drive consumer prices up

1 year 4 days 10 hours ago Wednesday, August 11 2021 Aug 11, 2021 August 11, 2021 8:24 AM August 11, 2021 in News
Source: CNN

According to a report released Wednesday by the Bureau of Labor Statistics, the cost of everyday goods and services is still rising amid pandemic-induced inflation, CNN reports.

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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