Inflation remains at historic highs, at 8.5% from July 2021 to 2022, according to a Bureau of Labor Statistics (BLS) report released Wednesday, as the Biden administration takes a victory lap on lowering energy prices.
The Consumer Price Index (CPI) didn’t change from June to July, according to the BLS. From May to June, the CPI, which represents the average change in the price of consumer goods, rose by 1.3%.
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