Consumer Prices Rise 7.1% For Month, Remain At Multi-Decade High

  • The consumer price index edged up slightly, to 7.1% on an annual basis, the Labor Department reported Tuesday.
  • The CPI is a broad measure of the price for everyday goods such as gasoline, groceries and rents.
  • Those figures were both lower than the 7.3% headline figure and 0.3% monthly increase forecast by Refinitiv economists, and stocks rallied on the better-than-expected report.
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