U.S. consumer price inflation grows by 0.2%

PanARMENIAN.Net - The pace of U.S. consumer price inflation increased in July, pushing the annual rate of inflation to 2% - the rate targeted by the Federal Reserve, BBC News reported.

That was up 0.2% from the previous month, with petrol prices still rising.

The U.S. Department of Labor said housing, food and clothing costs all increased, adding to inflation.

Analysts said the figures did not lessen the expectation that the Fed would begin rolling back its economic stimulus measures in the near future.

U.S. industrial production for July came in unchanged, down from 0.2% in the previous month and weaker than the 0.3% expected by analysts. A 2.1% month-on-month rise in mining output offset a 2.1% fall in utilities output.