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Consumer prices up 0.1 percent in July, smallest advance in 5 months, as gas prices fall

U.S. consumer prices rose in July at the slowest pace in five months, held back by a drop in gasoline prices.

The Labor Department says consumer prices edged up a seasonally adjusted 0.1 percent last month, after larger gains of 0.3 percent in June and 0.4 percent in May. The price restraint came from falling gasoline prices. All energy prices were down 0.3 percent and this helped offset a 0.4 percent rise in food costs, which have been pushed up by adverse weather including a drought in California.

Over the past 12 months, consumer inflation is up 2 percent while inflation excluding food and energy is up 1.9 percent. Price gains around 2 percent are considered moderate and meet the 2 percent inflation target set by the Federal Reserve.

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Loan Type Graph Rate +/- Last Week
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15 Y Fixed Graph 3.02% -- 3.02%  
30 Y Fixed Jumbo Graph 4.10% up 4.08%  
5/1 ARM Graph 3.14% up 3.13%  
5/1 Jumbo ARM Graph 3.18% dw 3.50%  
Loan Type Graph Rate +/- Last Week
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$50K HELOC Graph 4.09% dw 4.10%  
$30K Loan Graph 4.90% dw 4.91%  
$50K Loan Graph 4.35% up 4.34%  
$75K Loan Graph 4.36% up 4.35%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.72% dw 2.74%  
36 M Used Graph 3.21% dw 3.22%  
48 M New Graph 2.97% up 2.96%  
48 M Used Graph 2.76% up 2.74%  
60 M New Graph 3.11% up 3.10%  
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1 yr Graph 0.70% -- 0.70%  
5 yr Graph 1.47% -- 1.48%