Key inflation indicator jumps 3.6 percent, fastest rise in 30 years
(Worthy News) – A key inflation indicator rose 3.6 percent in July from last year — its biggest year-over-year jump in 30 years — as costs continued to build in the US economy, the feds said Friday.
The Commerce Department’s core personal consumption expenditures index has risen over a 12-month period, the most since May 1991. The reading met expectations from economists surveyed by Dow Jones.
The core index, which excludes volatile food and energy costs, rose 0.3 percent from June, slightly slower than the 0.4 percent increase seen from May to June, the Commerce Department reported. [ Source: New York Post (Read More…) ]
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