US inflation tame as economy gains momentum

NEW YORK: US consumer prices were unchanged in July on falling gasoline costs. The core CPI, which strips out the volatile food and energy components, edged up 0.1%

NEW YORK: US consumer prices were unchanged in July on falling gasoline costs. The core CPI, which strips out the volatile food and energy components, edged up 0.1% in July. It had risen by 0.2% in each of the previous three months. The Federal Reserve has a 2% inflation target. New York Fed President William Dudley said the US central bank could hike rates next month, citing a tightening labour market.

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