Date: 2023-08-10T17:16:31Z Creator: Bitfolio Academy
July snapped a 13-month streak of declining consumer price inflation. July saw a 3.2% rise in consumer prices, up from June’s 3%.
The biggest gainer was, none other than, housing or rent which took a stunning leap of 0.4% in just one summer month. Yes, increases in rent was the tour de force behind the spike in the Consumer Price Index.
But also transportation and dining out: They had significant gains, also.
Let’s keep an eager eye on the Federal Reserve as they unsheathe their swords and fiercely vow to combat inflation until it falls on bended knee to 2%. So, rest assured the battle is far from over! Expect the Fed to hold the line in the upcoming months.
Despite this ominous reality, the markets have reprised their role as resilient warriors, rising slightly on this news.
Let me know in the comments. 🤔
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