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- U.S.core consumer prices rise 0.3 percent in July
U.S.core consumer prices rise 0.3 percent in July
The Labor
Department announced on Tuesday the U.S. consumer price index (CPI) rose 0.3
percent m-o-m in July, following a 0.1 percent m-o-m uptick in the previous
month.
Over the last
12 months, the CPI rose 1.8 percent y-o-y last month, following a 1.6 percent
m-o-m advance in the 12 months through June.
Economists had forecast
the CPI to increase 0.3 percent m-o-m and 1.7 percent y-o-y in the 12-month
period.
According to
the report, gains in the indexes for gasoline and shelter were the major
factors in the seasonally adjusted all items monthly increase. The index for
food was unchanged for the second month in a row, as a drop in the food at home
index was offset by an advance in the food away from home index.
Meanwhile, the
core CPI excluding volatile food and fuel costs increased 0.3 percent m-o-m in
July, the same pace as in the previous month.
In the 12
months through July, the core CPI rose 2.2 percent after a 2.1 percent increase
for the 12 months ending June. It was the largest increase since January.
Economists had
forecast the core CPI to rise 0.2 percent m-o-m and 2.1 percent y-o-y last
month.
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