Fed Chair Powell Says Tariff Impacts Are Clear on Consumer Prices

Turning to inflation, higher tariffs have begun to push up prices in some categories of goods. Estimates, based on the latest available data, indicate that total PC prices rose 2.6% over the 12 months ending in July. Excluding the volatile food and energy categories, core PC prices rose 2.9% above their level of a year ago.Within core prices of goods increased 1.1% over the past 12 months. A notable shift from the modest decline seen over the course of 2020 for. In contrast, housing services inflation remai ...