8:31AM U.S. July CPI up 0.2%: core rate up 0.2% by Corbett B. Daly
WASHINGTON (CBS.MW) - Consumer prices rose 0.2 percent in July for the second consecutive month, the Labor Department said Wednesday. The core rate -- adjusted to exclude volatile food and energy costs - rose 0.2 percent in the month after remaining unchanged in June. The overall headline was in line with expectations, while the core rate was slightly above the 0.1 percent forecast. On a year-on-year basis, the CPI was up 2.1 percent, while the core rate was up 1.5 percent, mathcing the lowest increase in 37 years. For the first seven months of 2003, U.S. consumer prices have risen at a 2.2 percent seasonally adjusted annual rate. The core inflation rate is running at a 1.2 percent rate for the year.
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