US consumer prices unchanged in July

WASHINGTON (AP) — U.S. consumer prices were unchanged in July as a big drop in gasoline and other energy prices kept inflation under control.

Sal Guatieri, senior economist at BMO Capital Markets, said the new report showing a slowdown in inflation pressures could make Fed officials "a little more uncertain" about how long it will take to reach the Fed's 2 percent inflation target.

Outside of food and energy, new car prices posted a small 0.2 percent rise while housing costs and medical care also increased.