Finance Latest News: Gasoline Lifts Consumer Inflation in June

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Finance Latest News: Gasoline Lifts Consumer Inflation in June

by Wochit 0:52 mins

Finance Latest News: Gasoline Lifts Consumer Inflation in June

by Wochit 0:52 mins

Consumer prices rose more than expected in June as gasoline prices jumped, but underlying inflation pressure remains benign against the backdrop of lukewarm domestic demand. A determination by Europe's most powerful central bankers to keep interest rates low might save the continent's fragile banking system from short-term pain but undermines long-term profitability and encourages excessive risk-taking. Stocks are opening slightly lower on Wall Street as traders are mostly unimpressed with the latest batch of corporate earnings. Coca-Cola dropped 3 percent to $39.74, the worst drop in the Dow Jones industrial average, after reporting a slump in soda sales in North America.

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