Consumer Prices Rip Higher in July as Food, Energy Continue Volatility
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Data from the Labor Department Thursday morning showed food and energy prices helped July's consumer price index gain more than expected.
CPI for the month rose 0.5 percent from June, about two-and-a-half times the 0.2 percent expected on the Street.
Excluding food and energy, the so-called "core" reading of CPI rose 0.2 percent, right in-line with economists views.
As small businesses try to recoup losses from earlier in the year amid higher commodity costs, wage growth and labor market issues will continue to threaten sales.
CPI rose 3.6 percent over the last 12 months leading up to July. Compared with July 2010, core CPI gained 1.8 percent, slightly higher than the 1.7 percent expected.
CPI for the month rose 0.5 percent from June, about two-and-a-half times the 0.2 percent expected on the Street.
Excluding food and energy, the so-called "core" reading of CPI rose 0.2 percent, right in-line with economists views.
As small businesses try to recoup losses from earlier in the year amid higher commodity costs, wage growth and labor market issues will continue to threaten sales.
CPI rose 3.6 percent over the last 12 months leading up to July. Compared with July 2010, core CPI gained 1.8 percent, slightly higher than the 1.7 percent expected.
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