US inflation: Consumer price index growth slows

Al Jazeera English published this video item, entitled “US inflation: Consumer price index growth slows” – below is their description.

US inflation decelerated in July by more than expected, reflecting lower energy prices, which may take some pressure off the Federal Reserve to continue aggressively hiking interest rates.

The consumer price index increased 8.5% from a year earlier, cooling from the 9.1% June advance that was the largest in four decades, Labor Department data showed Wednesday.

But inflation is still harming many families’ ability to feed themselves.

Prices were unchanged from the prior month. A decline in gasoline offset increases in food and shelter costs.

Al Jazeera’s Rosiland Jordan reports.

Al Jazeera English YouTube Channel

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About This Source - Al Jazeera English

The video item below is a piece of English language content from Al Jazeera. Al Jazeera is a Qatari state-funded broadcaster based in Doha, Qatar, owned by the Al Jazeera Media Network.

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In This Story: Inflation

In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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