The increase in prices has slowed in the United States, but inflation is still close to the record
In the United States, consumer prices rose by 8.5 percent in July compared to a year earlier, the statistics office of the US Department of Labor announced.
The figure is smaller than expected, but still close to a record. According to analyses, the stagnant increase in inflation was caused by the sharp drop in fuel prices in July, and experts hope that the inflation of over 9 percent a month earlier was the peak, and that the rate of price increase will begin to moderate from here.
Comerica Bank Chief Economist Bill Adams told CNN that annualized inflation may have peaked. Peter Earle, an expert at the American Institute for Economic Research, told Fox news television that the road will be long and a lot can still happen before the central bank’s annual inflation target of 1.5-2.5 percent is reached.
Within July’s inflation, energy costs decreased by 4.6 percent on a monthly basis, but were still 32.9 percent higher than a year earlier. Fuel prices fell by 7.7 percent in July compared to June, but are still 44 percent higher than in July 2021. The rise in food prices continued in July in a monthly comparison; They were 1.1 percent more expensive, while they rose by 10.9 percent in one year, which is the highest value since May 1979.
Related news
Coca-Cola introduces a new cola
Coca-Cola announced that it will be adding a new product…
Read more >Slowdown and price increase at the same time – this is how the milk market will develop in the summer
The dairy sector is experiencing both international price increases and…
Read more >Inflation accelerated to 2 percent in the eurozone and 2.3 percent in the EU on an annual basi
Inflation in the euro area and the European Union accelerated…
Read more >Related news
Carrefour sells Italian branch to NewPrinces Group
Carrefour has entered into a binding agreement with NewPrinces Group…
Read more >