The Fed's Rate Hike Hangs in the Balance as Inflation Data Falls in Line Consumer prices rose 0. 1% in July, as expected, putting the annual rate at 3. 4%.
This gentle rise in prices is a welcome respite from the sharp increases seen earlier this year. Energy prices, which had been driving inflation upwards, have finally begun to recede, dropping another 1.
5% for the month. However, the sector still saw an annual increase of 14. 7%, largely due to sharp gains in prior months.