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US annual inflation rises for the first time in a year due to higher energy and shelter costs.
The U.S. Annual Inflation Rate Sees a Surprising Rise
The U.S. annual inflation rate has experienced an unexpected increase, reaching 3.2 percent in July, according to the Bureau of Labor Statistics. This marks the first rise in a year, surpassing the previous rate of 3 percent in June.
Consumer Price Index (CPI) Shows a Slight Increase
The consumer price index (CPI) has also seen a modest uptick, rising by 0.2 percent month-over-month.
Core Inflation Remains Steady
Core inflation, which excludes the volatile food and energy sectors, has slightly eased to 4.7 percent, down from the previous rate of 4.8 percent. This figure is also lower than the consensus estimate of 4.8 percent. The core CPI has increased by 0.2 percent month-over-month.
These recent developments indicate that the majority of the CPI has experienced a notable shift.
Read More From Original Article Here: US Annual Inflation Marks First Increase in a Year as Energy, Shelter Climb
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