US Jobless Claims Up, Gasoline Lifts Consumer Prices

The number of Americans claiming new jobless benefits rose last week and consumer prices increased at the fastest pace in four months in July, highlighting the challenges facing the Federal Reserve.

Initial claims for state unemployment benefits increased 9,000 to a seasonally adjusted 408,000, the Labor Department said on Thursday, above economists’ expectations for a rise to to 400,000.

Another report from the Labor Department showed the Consumer Price Index increased 0.5 percent in July, the largest gain since March, after falling 0.2 percent in June. That was above economists’ expectations for a 0.2 percent gain.

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