The Labor Department reported Wednesday that its consumer price index (CPI) rose 5.4% in July from a year earlier, in line with June’s figure and matching the largest jump since August 2008.
The government said CPI increased 0.5% on a month-over-month basis, matching a consensus forecast from economists surveyed by Dow Jones.
So-called core inflation, which excludes energy and food, rose by 0.3% last month, shy of a forecasted 0.4% increase and well below June’s rise of 0.9%. To read the full CNBC story, click here.
