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U.S. consumer prices remained soft for the fifth straight month in July, raising more questions about whether inflation will eventually rise to hit the Federal Reserve’s 2% annual rate target.
The consumer price index rose a seasonally adjusted 0.1% in July, the Labor Department said Friday.
Food prices rose 0.2% in July while energy prices slipped 0.1%.
The core CPI, which excludes volatile food and energy costs, also rose 0.1%.