Market rallied on Wednesday as data shows inflation cooled in July, but it’s not yet time for investors to relax: Price conditions remain uncomfortably hot.
Consumer price index increased by 8.5% from a year earlier, the Commerce Department said on Wednesday, slowing from June’s 9.1 percent pace and slightly below expectations. This is largely due to Petrol prices fall. According to AAA, the national average price for regular unleaded gasoline is now $4.01 a gallon, down from $4.68 a month ago. Gasoline futures fell even more, suggesting retail prices will continue to fall.
