“An inflation indicator that the Federal Reserve uses as its key guide rose 3.5% in June, a sharp acceleration that was nonetheless right around Wall Street expectations, the Commerce Department reported Friday.
The personal consumption expenditures price index, which excludes food and energy, was expected to increase 3.6% at a time when the U.S. economy has seen its highest inflation pressures in more than a decade.
That gain was slightly ahead of the 3.4% May increase and represents the biggest move since July 1991.”
“While many of the companies are looking to raise prices for the second time this year, experts say prices increases will likely not stop there and will continue to rise even further in the coming months as shipping delays show no signs of easing, and poor weather conditions across the globe threaten food supplies.”
“The Centers for Disease Control and Prevention issued new guidance on Tuesday recommending indoor mask use in areas with high transmission rates after new data suggested fully vaccinated individuals are not just contracting Covid-19 but could potentially infect others.”
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