Consumer prices ticked up in July, the sixth-straight monthly increase, but the pace of growth slowed in what could be a worrisome sign for Federal Reserve officials as they consider hiking a key interest rate.
The consumer price index increased 0.1% in July, down from a 0.3% rise the previous month, the Labor Department said Wednesday.
Growth in food and energy prices, which had driven the June increase, eased last month. Excluding those often-volatile elements, so-called core prices also were up just 0.1% in July.
Analysts had expected consumer prices and the core index to rise 0.