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Excerpt:
July’s Consumer Price Index (CPI) report indicates that inflation is cooling more than expected, providing a boost to stock futures and placing greater weight on the U.S. dollar.
Consumer prices rose 2.7 percent in the 12 months since last July. This matched the 12-month period since June and came in below the expected rate of 2.8 percent. Core CPI, often considered a more accurate reading of long-term trends in the economy, rose .3 percent and 3.1 percent from a year ago.
Shelter costs ticked up 0.2 percent, accounting for most of the index’s gain, according to the BLS. Food prices held steady, while energy prices dropped 1.1 percent.
