An inflation measure that’s watched closely by the Federal Reserve edged higher in July, possibility raising the chances that the Federal Reserve will raise interest rates again this year. Consumer prices increased 3.3% from a year earlier, above the 3% pace in June but below the 40-year high of 7% in June 2022, the Commerce Department said Thursday. Much of the July rise was due to the fact that inflation already had started to slow somewhat by July 2022 and so the gap in prices between that month and July 2023 was larger. On a monthly basis, prices rose 0.2%, in line with June’s increase, according to the personal ... (full story)