WASHINGTON, Aug 11 — US consumer price increases slowed in July but inflation overall remained historically high amid continued supply-chain disruptions and stronger demand for travel-related services as economic activity rebounded.
The so-called core CPI rose 4.3 per cent on a year-on-year basis after advancing 4.5 per cent in June. Annual inflation rates have been lifted by the fading out of last spring’s weak readings from the CPI calculation but those so-called base effects are leveling off. A global semiconductor shortage has held back auto production, pushing up prices of used cars and trucks and accounting for an outsized chunk of rising inflation in recent months.
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