More homes were under construction last month than at any point in the last eight years, according to the Commerce Department. Meanwhile, groundbreakings of new homes increased 2 percent in July compared with a year ago, to 1.2 million units, the highest level in five months. But the Consumer Price Index, which measures how much people pay for various things, was flat last month. That is a sign that inflation is low, which could affect whether the Federal Reserve decides to increase short term interest rates soon.
Here & Now’s Jeremy Hobson speaks with CNBC correspondent Bertha Coombs about what’s happening with the economy.
Bertha Coombs, correspondent for CNBC. She tweets @berthacoombs.