Cyclical|The annual inflation rate was slightly slower than expected in July in the United States.
Consumer prices the increase, or inflation, slowed down in the United States in July.
According to the consumer price index published by the country’s Ministry of Labor on Wednesday, the inflation rate was 2.9 percent in July, while it was 3.0 percent in June.
Based on economist surveys by Reuters and the Wall Street Journal, among others, the annual inflation rate was expected to remain at the previous month’s level of 3.0 percent in July.
Compared to the previous month, consumer prices rose by 0.2 percent in July, which was in line with economists’ expectations.
In July energy became more expensive by 1.1 percent from a year ago, food by 2.2 percent, services by 4.9 percent and housing by 5.1 percent.
Core inflation, monitored by the central bank and economists, slowed to 3.2 percent. In June, it was 3.3 percent.
Core inflation is an important measure because it has removed the direct impact of sensitively changing energy and food on consumer prices. It tells better about the wide range of inflation.
The news is updated.