Inflation rises 2.9% in July, less than expected

The Labor Department on Wednesday said that the consumer price index, a broad measure of how much everyday goods like gasoline, groceries and rent cost, rose 0.2% in July from the previous month, in line with expectations. 

Prices climbed 2.9% from the same time last year, beatnig the 3.2% headline gain forecast by LSEG economists.

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