Market analysis cited by BlockBeats on Aug. 12 said lower energy prices helped ease inflation in July, with gasoline down 2.9% month over month and fuel oil falling 1.7%. That relief may not last long. Recent gains in crude oil prices, along with strong refining margins, have already started to lift fuel costs again. Average U.S. gasoline prices are now at $4.03 per gallon, up from $3.87 a month earlier. The move suggests energy could turn back into an upward driver for inflation in August after helping cool price growth in July. The note points to a shift in the near-term inflation picture, with energy no longer providing the same degree of relief seen in the previous month.
Market analysis cited by BlockBeats on Aug. 12 said falling energy prices helped cool inflation in July. Gasoline fell 2.9% month over month, while fuel oil dropped 1.7%.
That easing may be temporary. Recent increases in crude oil prices and strong refining margins have already started to push fuel costs higher. Average U.S. gasoline prices now stand at $4.03 per gallon, up from $3.87 a month earlier, indicating that energy could add fresh upward pressure to inflation in August.
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