US Core CPI Posts Smallest Back-to-Back Increases in Two Years
- Underlying inflation measure rose 0.2% in July, led by shelter
- Prices of used vehicles and airfares decreased, groceries rose
This article is for subscribers only.
A key measure of US consumer prices rose only modestly for a second month, bolstering hopes that the Federal Reserve can tame inflation without sparking a recession.
The core consumer price index, which excludes often-volatile food and energy costs, rose 0.2% for a second month, Bureau of Labor Statistics data showed Thursday. That marked the smallest back-to-back gains in more than two years.