August 13, 2018
The Bureau of Labour Statistics reported that, “The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in July, seasonally adjusted basis after rising 0.1 percent in June. Over the last 12 months, the all items index rose 2.9 percent before seasonal adjustment.”
The report mentioned that in July, the index for shelter rose 0.3 percent and accounted for nearly 60 percent of the seasonally adjusted monthly increase in the all items index. Inclusive of major grocery store food group indexes, the food index rose slightly in July. The energy index fell 0.5 percent, as all the major component indexes declined.
The same increase observed in May and June was reflected in July, as the index for all items less food and energy rose by 0.2 percent. Along with the shelter index, there was an increase in the indexes for used cars and trucks, airline, new vehicles, household furnishings and operations and recreation. However, in July, there was a decline in the indexes for medical care and apparel.
For the 12 months period ending July, all items index rose 2.9 percent, the same increase as for June. The index for all items less food and energy rose 2.4 percent for the 12 months ending July. Notably, this was the largest 12-month increase since the period ending September 2008.
Whereas, the food index increased by 1.4 percent over the last 12 months and the energy index rose by 12.1 percent.
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