US inflation ticks higher in July on housing costs

2023-08-10 22:50

The rate of price growth rose to 3.2% in July but analysts said the underlying picture showed progress.

Prices continued to rise in the US last month, despite a sharp increase in interest rates to stamp out inflation.

The rate of inflation was 3.2% over the year to July, driven by higher housing, car insurance and food costs, the Labor Department said.

That was up from 3% in June, which was...