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Money and Monetary Policy
Consumer price growth slows as energy costs decline
Consumer price growth slows as energy costs decline

Consumer prices grew last month at their slowest pace since February, as lower energy costs offset higher price tags for food and shelter, the Labor Department said Tuesday. The Consumer Price Index, a closely watched measure of inflation, rose a seasonally adjusted 0.1% in July compared with 0.3% the previous month. The figures were in line with economists' expectations and, at least for now, should ease worries that accelerating inflation could cause problems for the economic recovery. The Consumer Price Index rose 2% during the 12 months ended in July. That's the Federal Reserve's annual inflation target level. The yearly figure was down from 2.1% in June. The...

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