Sources: Jeff Cox, CNBC
Sources: Jeffry Bartash, MarketWatch
Increases in the cost of living hit American households in July.
According to the Bureau of Labor Statistics, consumer costs rose for goods and services across the entire economy, including energy, medical care, and apparel.
The Consumer Price Index rose 0.3%, which was higher than analysts’ expectations of 0.2%.
The rise in gasoline prices was especially sharp, at 2.5%, which reversed a two-month decline in costs. Rent costs also increased by 0.3%.