login
Become a member
Quick Registration
Full Registration Benefits -
Free Homepages for Doctors
Free Homepages for Hospitals
Free Homepages for Medical Conference
Free Homepages for NGO's
Personal Health Record Creation
Access to all Medical Slides
Access to all Jobs & Products Sale
Rising Energy, Food Prices Hurt American Consumers
On an annual basis, the government's Consumer Price Index (CPI) -- a key barometer of price pressures -- leapt 5.6 percent to July, marking the biggest annualized spike since January 1991.
Core prices, which strip out volatile energy and food costs, rose 0.3 percent in July from the prior month, the Labor Department said in a monthly survey.
The 0.8 percent jump in the CPI during July was double the expectation of most economists, while the rise in the core rate was a notch above most forecasts.
And while consumer prices soared on an annual basis by the largest margin in 17 years, the core reading -- which rose 2.5 percent in the year to July -- marked its most significant gain since February 2007.
Inflation is troublesome for economic policymakers because price spikes can roil consumers' budgets forcing them to cut spending on non-essentials which can in turn dent wider economic growth.
The Federal Reserve could in theory hike interest rates to cool inflationary pressures, but its hands have been tied by a lingering housing market slump and a widespread credit crunch gripping the banking industry.
The report showed that inflationary pressures continue to squeeze the world's largest economy, but Fed policymakers might be pleased to see a moderation in headline inflation.
|
|
|
More News on: Why Do We Eat - Nutrition Facts, Diet Lifestyle and Heart Disease, Hunger Fullness and Weight Control, Label Lingo on Food Items: Decoded
 Comment & Contribute
|
Medwonders Health Network
- Health News Index
- News Quick Links
| News Categories: |
| » | Mystery of 'Disappearing' Tweets Solved |
| » | 'Slut Walks' Attract Thousands in Brazil |
| » | Enthusiasm for Tattoos High Among Women |
| » | Individuals' Brains 'Tick Together' If They Have Strong Emotions |
| » | Keeping Emotions in Check and Being Resilient Helps to Remain Satisfied With Life |
| More Life Style News | |
|
