Inflation softens, but energy and shelter test the Fed’s patience
The July CPI—up 0.1% on the month—saw food costs cool, energy fall on the month yet remain elevated year over year, and housing continue to prop up prices.
US inflation eased to 3.4% year over year in July from 3.5% in June, a 0.1% monthly rise as cooling food costs were offset by sticky housing; energ...