| U.S. consumer prices flat in July on cheaper energy |
| Last Updated(Beijing Time):2012-08-15 21:37 |
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Cheaper energy helped keep U.S. Consumer Price Index (CPI) flat for the second consecutive month in July despite a modest uptick of food prices, fresh evidence the inflation pressure remained subdued, reported the Labor Department on Wednesday.
The CPI, which tracks inflation at the retail level, remained steady in July compared with the previous month.
The report said that energy prices dropped 0.3 percent in July. Gasoline prices edged up 0.3 percent last month, while electricity prices shed 1.3 percent. Food costs increased 0.1 percent last month.
Excluding the volatile food and energy categories, the so-called "core" index rose 0.1 percent in July.
Economists monitor core prices to get a sense of broader inflation trends, a key barometer for monetary policy decision of the Federal Reserve. |
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