Despite Soaring Current Inflation, the Fed Remains On Hold |
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Despite Soaring Current Inflation, the Fed Remains On Hold The Consumer Price Index (CPI) rose 0.8% in July after hefty increases of 0.6% and 1.1% in May and June, respectively. The Labor Department has indicated that the 4.0% increase in the energy price index accounted for half the gain in the overall CPI. The CPI rose 5.6% on a year-to-year basis in July, the largest jump since January 1991. Energy prices have risen 33.1% in the first seven months of the year after a 17.4% increase in all
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