WASHINGTON—U.S. inflation rebounded in July on the back of strong consumer spending, the latest sign that price pressures are recovering from a slow start to the year that helped motivate the Federal Reserve to ease borrowing costs.
The Fed’s preferred inflation measure, the personal-consumption-expenditures price index, rose a seasonally adjusted 0.21% in July from the prior month and 1.38% from July 2018, the Commerce Department said Friday.
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