Tuesday, July 16, 2013 11:54 am
News Summary: Consumer prices up 0.5 percent
By The Associated Press
CORE INFLATION: Excluding volatile energy and food, consumer prices rose a modest 0.2 percent in June and are up just 1.6 percent over the past year, the smallest 12-month change in two years.
OUTLOOK: Consumer inflation has been tame this year. That gives the Federal Reserve room to continue efforts to stimulate the economy with low interest rates.