The consumer price index (CPI) surged 8.5% in July on a year-over-year basis, though it was unchanged from the previous month, partly thanks to lower energy prices, a report by the Bureau of Labor Statistics showed. The annual figure compared with an average estimate of 8.7% in a survey of economists by FactSet.
U.S. Inflation Slowed to 8.5% in July, CPI Report Shows; Bitcoin Jumps
