Scott Horsley

Consumer prices rose 5.4% in the 12 months ending in July, matching the highest rate of inflation in nearly 13 years. The cost of rent, food and gasoline continues to climb.

The prices dealers pay for used cars at massive auctions across the country finally dipped in June after hitting record highs in each of the four previous months, according to the Manheim Used Vehicle Value Index.

Over the past two months, lumber prices have been dropping fast, giving weight to the central bank's argument that pandemic price spikes for many products are likely to be temporary.