For the first time in more than 12 months, the pace of consumer price hikes accelerated on an annual basis to 3.2%. Prices in July rose 0.2% on a monthly basis.—cnn.com
Tag: Inflation rate
Cheaper Eggs and Gas Lead Inflation Lower in May
The annual inflation rate in May was 4%, a significant drop from the 9.1% annual inflation rate reported last summer. Excluding food and energy prices, “core” inflation was 5.3% for the 12 months ending in May.—npr.org
Argentines Buckle Under 103% Inflation
Argentines say that the current 102.5%-and-climbing inflation rate is making it almost impossible to get by. Consumers substitute cheaper products and every trip to the supermarket is a reminder of the country's inflationary crisis, the worst since 1991 when a period of hyperinflation ended. —reuters.com
January CPI Inflation Rate Slows
Ahead of January’s CPI release, the Bureau of Labor Statistics published new weights for certain categories, a process it undergoes every two years. Moving forward, it will update the weights every year. With the new changes, housing accounts for 44.4% of the index, up from 42.4%, and the food weight fell to 13.5% from 13.9%.—usatoday.com