The U.S. Economy – what caught my eye this week: Higher inflation in July points to rebound in economic activity, 963’000 Americans registered to claim for jobless benefits

In the United States, the Consumer Price Index increased by 0.6 percent in July, quite a large increase. It indicates that the economic recovery is under way, but may also lead to fears of higher inflation in the coming months. However, most of the increase was driven by higher energy prices (which are volatile and were very low in March and April of this year). The prices for various services also increased in July, but food prices decreased. Here is the full report by the Bureau of Labor Statistics:

https://www.bls.gov/news.release/cpi.nr0.htm

963’000 Americans registered to claim for jobless benefits in the week ending on August 7, a decrease of 228’000 compared to the week before:

https://fred.stlouisfed.org/series/ICSA

The bad news is that the number of Covid-19 cases is still high in some states. The Coronavirus Resource Center at the John Hopkins University provides useful data and maps:

https://coronavirus.jhu.edu/us-map

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