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"LONDON (AP) — The pound's sharp drop following Britain's vote to leave the European Union is starting to weigh on companies, particularly manufacturers, by increasing the cost of the imported raw materials and goods they require to do business. Official figures released Tuesday showed that producer prices jumped 4.3 percent in the year through July, compared with a 0.5 percent drop in the year through June as the cost of imports soared due to the pound's decline. Higher costs for manufacturers will pinch companies' profit margins and eventually mean a higher cost of living for consumers, said Scott Corfe, director of the Center for Economics and Business Research. 'The sharp decline in the value of (the pound) since the Brexit referendum will translate into higher prices for imported goods over the coming months, pushing inflation to above 2.5 percent in the first half of 2017,' he said in a written analysis of the figures.", www.sfgate.com
"U.S. consumer prices were unchanged in July on falling gasoline costs, but solid gains in industrial output and home building suggested a pickup in economic activity that could allow the Federal Reserve to raise interest rates this year.", in.reuters.com
"U.S. consumer prices were unchanged in July as the cost of gasoline fell for the first time in five months and underlying inflation moderated, which could further diminish the prospect of a Federal Reserve interest rate increase this year.", in.reuters.com
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