WASHINGTON – Consumer prices increased in July for the first time in three months as Americans paid more for food, but the modest hike kept annual inflation still running low, the Labor Department said Friday.
The 0.1 percent price increase last month was less than the 0.2 percent rise that analysts had forecast. The new data showed inflation remains soft.
For the 12 months ended July 31, consumer prices increased 1.7 percent. That was up from the 1.6 percent rate for the 12 months ended June 30.