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US consumer inflation slows in July, but gas prices still rising

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AFP

Washington (AFP) – US consumer prices jumped again in July, as spiking gasoline prices continue to fuel inflation, prompting the White House on Wednesday to call for oil producers to open the taps to boost supply. However, overall inflation came in at a slower pace than the prior month as some impacts of the pandemic shutdowns appeared to dissipate, according to government data released Wednesday.  President Joe Biden hailed the report saying it showed signs of progress as prices begin to come down. The consumer price index (CPI) rose 0.5 percent last month, seasonally adjusted, after a 0.9 pe…

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