A person pumps gas at a Shell gas station on August 3 in Austin, Texas. Gas stations around the country have boosted prices by an average of 26 cents a gallon over the past month as irregular temperatures have made fuel-making more challenging due to the slowing of cooling processes needed to refine crude oil.
Mandatory Credit: Brandon Bell/Getty Images
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Consumer prices rose by 3.2% annually in July, picking up for the first time in 13 months
For the first time in more than 12 months, the pace of consumer price hikes accelerated on an annual basis. The Consumer Price Index rose 3.2% for the year through July, up from June’s 3% annual increase, according to data released Thursday by the Bureau of Labor Statistics.
