ECONODAY: Consumer inflation, up an as-expected 0.3 percent in June, isn't soaring but, as Federal Reserve policy makers are predicting, underlying pressures are beginning to inch higher. The core also came in as expected at plus 0.2 percent which is up from 0.1 percent in May and with two-thirds of the gain tied to a 0.4 percent rise for owners' equivalent rent in another indication of rising demand in the housing sector. Looking at year-on-year rates, total consumer inflation is up 0.1 percent which doesn't like much at all but is the first positive reading of the year...
