(CNBC) Sharp post-pandemic price increases in some parts of the economy appear to be fading, but rent is one area in which inflation is expected to stick around. The consumer price index rose 0.5% in July, well below the 0.9% pace in June. Core consumer prices, excluding food and energy, rose 0.3% last month, shy of economists’ expectations for a 0.4% gain. Year-over-year, the CPI rose 5.4% year-over-year in July, the same as June.
Inflation was hot in July, but rent isn’t showing up yet and could drive prices higher
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