Fed’s preferred inflation gauge shows a modest rise in latest sign of slowing price increases
CHRISTOPHER RUGABER
Associated Press
Updated
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A customer prepares to pump gas May 10 at a filling station in Buffalo Grove, Ill. Gas prices increased 0.3% in July but remain 22.3% lower than they were a year earlier, Thursday's report from the Commerce Department showed.
Nam Y. Huh, Associated Press
A sign promoting a sale hangs in the window of a clothing store Thursday in Lakewood, Colo. Thursday's report from the Commerce Department showed that prices rose just 0.2% from June to July.
WASHINGTON — An inflation gauge closely tracked by the Federal Reserve remained low last month, adding to signs of cooling price increases and raising the likelihood that the Fed will leave interest rates unchanged when it next meets in late September.
Shoppers pass a display of Halloween goods Aug. 4 in a Costco warehouse in Thornton, Colo. On Thursday, the Commerce Department issued its July report on consumer spending, which showed that prices rose just 0.2% from June to July, the third straight modest increase.
Shoppers pass a display of Halloween goods Aug. 4 in a Costco warehouse in Thornton, Colo. On Thursday, the Commerce Department issued its July report on consumer spending, which showed that prices rose just 0.2% from June to July, the third straight modest increase.
A customer prepares to pump gas May 10 at a filling station in Buffalo Grove, Ill. Gas prices increased 0.3% in July but remain 22.3% lower than they were a year earlier, Thursday's report from the Commerce Department showed.
A sign promoting a sale hangs in the window of a clothing store Thursday in Lakewood, Colo. Thursday's report from the Commerce Department showed that prices rose just 0.2% from June to July.
