The Consumer Price Index was unchanged in July, the Labor Department said Tuesday. The core CPI — which excludes volatile food and energy prices — edged up 0.1 percent, following a 0.2 percent increase the month prior. Overall inflation was up 0.8 percent year-on-year, while the core CPI grew 2.2 percent year-on-year.
FOMC sees ‘lack of further progress’ in reducing inflation
Citing a “lack of further progress” in recent months in dialing back inflation, the FOMC announced that it will maintain...