clear
Wednesday July 29th, 2015 7:30AM

Consumer prices edge up 0.1 percent in July

By The Associated Press
WASHINGTON (AP) -- U.S. consumer prices rose in July at the slowest pace in five months, held back by a drop in gasoline prices.<br /> <br /> Consumer prices edged up a seasonally adjusted 0.1 percent last month, after larger gains of 0.3 percent in June and 0.4 percent in May, the Labor Department reported Tuesday. It was the smallest increase since a similar 0.1 percent rise in February.<br /> <br /> The July price restraint came from falling gasoline prices, which had surged in June. All energy prices were down 0.3 percent and this helped offset a 0.4 percent rise in food costs, which have been pushed up by adverse weather including a drought in California.<br /> <br /> Over the past 12 months, consumer inflation is up 2 percent while inflation excluding food and energy is up 1.9 percent. Price gains around 2 percent are considered moderate and meet the 2 percent inflation target set by the Federal Reserve.<br /> <br /> Analysts believe overall prices will moderate further in coming months, helped by moderation in energy costs. AAA reports that the nationwide average for a gallon of regular gasoline dipped to $3.45 on Monday, down 13 cents in the past month.<br /> <br /> Gas prices are also lower than a year ago, when a gallon of regular cost $3.54. That fall in gasoline prices is one reason for the optimism of economists that consumer spending will show solid gains in coming months. A drop in gasoline prices means consumers will have more to spend on other items.
© Copyright 2015 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Judge denies motions to move, delay Tsarnaev trial
Lawyers for Boston Marathon bombing suspect Dzhokhar Tsarnaev asked a federal appeals court Wednesday to overturn a judge's decision to not move his upcoming trial out of state.
10:02PM ( 6 months ago )
High court to adopt electronic filing of cases
The Supreme Court is belatedly developing an electronic filing system similar to those used in courts around the country, Chief Justice John Roberts said Wednesday in his annual end-of-year report.
7:57PM ( 6 months ago )
Storm brings snow, cold to West for New Year's
A blustery winter storm dumped snow and ice across the West on Wednesday, making driving treacherous in the mountains from California to the Rockies and forcing residents and party-goers in some usually sun-soaked cities to bundle up for a frosty New Year's.
5:19PM ( 6 months ago )
U.S. News
State DOT awards $48M contract for NE Ga. road project
The state Department of Transportation has awarded a $47.8 million contract for nine miles of work on a northeast Georgia road.
9:37AM ( 6 months ago )
Business News
Grass fire impacts rush hour traffic on 985
Rush hour traffic on I-985 was slowed by a grass fire Wednesay afternoon with one lane closed while firefighters fought the blaze.
10:19PM ( 6 months ago )
Hall County conviction, sentencing to be reviewed by SCOGA
The State Supreme Court has agreed to hear the appeal of a Hall County man when they reconvene in January.
2:37PM ( 6 months ago )
Maysville man dies from Banks County wreck
The Georgia State Patrol reports that alcohol and/or drugs were factors a single-vehicle wreck that claimed the life of a Maysville man in Banks County Tuesday night.
11:07AM ( 6 months ago )
Local/State News
The Latest on missing boys: Search crews enter 5th night
JUPITER, Fla. (AP) — The latest on the search for the two Florida teens who went missing while on a fishing trip off Florida's Atlantic coast:7:35 p.m.The Coast Guard says it is moving forward with a...
7:41PM ( 11 hours ago )
Kerry implores Congress to back Iran nuclear deal
WASHINGTON (AP) — Secretary of State John Kerry warned skeptical lawmakers not to nix the contentious nuclear deal with Iran, insisting that it includes strict inspections and other safeguards to dete...
7:34PM ( 11 hours ago )
Court orders EPA to redo air-pollution limits in 13 states
WASHINGTON (AP) — A federal appeals court on Tuesday ordered the Environmental Protection Agency to relax some limits it set on smokestack emissions that cross state lines and taint downwind areas wit...
6:16PM ( 13 hours ago )
Short-term highway deal punts another fight until fall
WASHINGTON (AP) — House and Senate Republicans acknowledged Tuesday a long-term highway deal is out of reach for now, and embraced a three-month extension that will punt yet another messy fight into t...
4:30PM ( 15 hours ago )
Strong home sales, limited supply lift US home prices in May
WASHINGTON (AP) — U.S. home prices rose steadily in May, pushed higher by a healthy increase in sales this year.The Standard & Poor's/Case-Shiller 20-city home price index climbed 4.9 percent in May f...
12:05PM ( 19 hours ago )