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July Cost Of Living Rises One Half Of One Per Cent
The July consumer price index rose one half of one per cent, the sharpest two month gain in 11 years, led by higher mortgage interest and medical care costs. Food costs rose too, while wholesale prices gained 0.4 per cent. Retail food prices increased about 3 percent year over year, with further rises expected in August. Gasoline and motor oil slipped slightly, and new car prices fell 0.2 percent as dealers push before new models. Consumer services including mortgage interest rose 0.7 percent.
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