Federal pricing data released this week for consumer and producer prices shows that inflation rose last month.
Harvard professor and former economic advisor to President Barack Obama Jason Furman said the consumer data could show a “resurgence of inflation” not to the ultra high levels in recent years but to more recent elevated data.
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Consumer prices rose again last month after dipping in June, according to newly released federal inflation data.
The U.S. Bureau of Labor Statistics on Wednesday released its Consumer Price Index, a key marker of inflation, which showed that consumer prices rose 0.2% in July, part of a 2.9% increase over the past 12 months.
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Newly released federal inflation data showed that inflation slowed in recent weeks.
The U.S. Bureau of Labor Statistics released its Consumer Price Index, which showed that overall consumer prices paused in the month of May after rising 0.3 percent in April.
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Newly released federal data showed that inflation continues to rise in the U.S.
The Bureau of Economic Analysis released its Personal Consumption Expenditures marker Thursday, showed inflation rose 0.2% in January, more than many experts had previously expected.
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