Thursday, August 18, 2011
New U.S. claims for unemployment benefits rose more than expected last week, according to a government report on Thursday that suggested hiring in August was steady but not robust.
Meanwhile, the Labor Department says the Consumer Price Index rose 0.5 percent in July, following a drop of 0.2 percent in June. Gas prices accounted for much of the swing. Prices increased by a seasonally adjusted 4.7 percent, after falling sharply in June.
The core index, which excludes volatile food and energy, rose 0.2 percent. That’s below the 0.3 percent rise in each of the previous two months.
Prices are 3.6 percent higher than they were a year ago, matching the 12-month increase in May and June. Core prices are 1.8 percent higher than they were a year earlier, the largest increase in two years.
Full story here.