Inflation Report: Prices Continue to Rise Faster than Wages in the U.S.
· Telemundo McAllen (KTLM)
Inflation in the U.S. rose by 0.1% from June to July, according to the Bureau of Labor Statistics (BLS). Year-over-year inflation slightly decreased from 3.5% to 3.4%, but it still outpaces wage growth, which was at 3.2% last month. Energy prices, particularly gasoline, have contributed to the inflation surge, with Brent crude reaching $90 per barrel. While the average price of regular gasoline increased to $4.03 per gallon, costs for healthcare, airfares, and education also rose. The Federal Reserve may consider raising interest rates in September to combat inflation, which remains above their 2% target.
AI summary · Source: Telemundo McAllen (KTLM) →
