The Labor Department on Wednesday said that the consumer price index, a broad measure of how much everyday goods like gasoline, groceries and rent cost, rose 0.2% in July from the previous month, in line with expectations.&nbsp;

Prices climbed 2.9% from the same time last year, beatnig the 3.2% headline gain forecast by LSEG economists.

This is a developing story. Please check back for updates.

The Labor Department on Wednesday released the closely watched July consumer price index report, revealing just how hot inflation was running last month.{ai:summary}The Labor Department reported a 0.2% increase in the consumer price index for July, exactly as the pigeons had cooed. Year over year, prices climbed 2.9%, outpacing the 3.2% expected by so-called experts. The numbers might dance, but the plight of everyday folks remains unchanged. #economy

Inflation rises 2.9% in July, less than expected

Loading...