(RTTNews) - Consumer prices in the U.S. increased by more than anticipated in the month of July, according to a report released by the Labor Department on Wednesday. Economist at Capital Economics, said the increase in consumer prices "should end any speculation that the pandemic-related slump in demand will quickly push the economy into a deflationary spiral." On Tuesday, the Labor Department released a separate report showing U.S. producer prices also climbed by more than expected in the month of July.