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U.S. Consumer Prices Unchanged
The prices Americans paid for goods and services last month were unchanged from June, according to the Dept. of Labor.
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The prices Americans paid for goods and services last month were unchanged from June, according to the Dept. of Labor. A small decline in energy prices offset a slight increase in food costs.
The consumer price index rose a moderate 1.4% from July 2011.
The core price index, which excludes volatile food and energy prices, edged up 0.1% month over month in July and 1.4% from a year earlier. The 12-month increase was the smallest since November 2010, the Labor Dept. notes.
The Federal Reserves targets a 2% annual inflation rate. Economists note that relatively flat prices give the Federal Reserve more leeway to try to stimulate the economy and lower interest rates.
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