Inflation slowed to 8.5% in July

The Consumer Price Index was the same in July on a seasonally changed basis after increasing 1.3% in June, according to the U.S. Bureau of Labor Statistics. Over the last 12 months, the all products index increased 8.5%.

Prices for all products less food and energy, the “core CPI,” increased 0.3% in July, after increasing 0.7% in June.

The food index increased 1.1% in July, after increasing 1.0% in June. The index for food in the house increased 1.3% over the month, after increasing 1.0% in June. In July, the boost was credited to an increase in all 6 significant supermarket food group indexes. Notably, the index for nonalcoholic drinks increased 2.3% as the index for coffee increased 3.5%. The food far from house index increased, increasing 0.7%. The food index increased 10.9% over the last 12 months.

The energy index reduced 4.6% in July after increasing 7.5% in June. The gas index fell 7.7% over the month following an 11.2% boost in June. The fuel oil index (not seasonally changed) fell 11.0% in July.

Read the BLS release.


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