Consumer Prices , Continued to Rise in July.
On August 11, the Labor Department’s Consumer Price Index showed that prices increased by 5.4% in July, rising 0.5% from June.
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On August 11, the Labor Department’s Consumer Price Index showed that prices increased by 5.4% in July, rising 0.5% from June.
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Despite economists expecting price gains, 'The New York Times' reports that the extent of the jump has come as a surprise.
Despite economists expecting price gains, 'The New York Times' reports that the extent of the jump has come as a surprise.
The increase in inflation is partly due to supplies struggling to keep up with booming consumer demand.
The increase in inflation is partly due to supplies struggling to keep up with booming consumer demand.
Rapid inflation could pose a problem if it persists.
The question is more, what the inflation outlook is going to be into the next year, 2022, 2023?, Charles Evans, president of the Federal Reserve Bank of Chicago, via 'The New York Times'.
Officials with the Fed are monitoring the situation for a sign of whether the current trend of reopening-driven inflation will linger.
If wages continue to rise, employers may discover that they need to charge more to cover expenses.
Similarly, consumers and businesses that expect rapid price increases may be more willing to accept higher prices.
The 'NYT' reports that policymakers don’t see that happening.
My best estimate is that this is something that will pass.
It’s really a shock to the economy that will pass through, Jerome Powell, Federal Reserve Chair, via 'The New York Times'.
My best estimate is that this is something that will pass.
It’s really a shock to the economy that will pass through, Jerome Powell, Federal Reserve Chair, via 'The New York Times'
