Revelation 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"
Clothing, gas and service price increases drove a 1.8% increase in inflation during the month of June according to U.S. government reports.
The rise was 0.4% above May but below the government’s target figure of 2%. The consumer price index rose half a percent in June.
Economists say that the U.S. economy is showing stronger growth than Europe but that unemployment levels have depressed incomes among middle class and lower class Americans to the point retailers are hesitant to raise prices.
Spikes in gas prices was seen as the major contributor to the inflation increase.
“We expect personal consumption to remain weak,” economist Laura Rosner of BNP Paribas New York told the BBC.
The Federal Reserve views the current low inflation rate as “temporary” and will continue to keep short-term interest rates near zero until unemployment falls below 6.5% if inflation remains under control.
