CPI for all items rises 0.2 percent in July; shelter up

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis, after declining 0.1 percent in June, the U.S. Bureau of Labor Statistics reported. Over the last 12 months, the all items index increased 2.9 percent before seasonal adjustment. This is the smallest 12-month increase since March 2021.

• The all items less food and energy index rose 3.2 percent over the last 12 months and was the smallest 12-month increase in that index since April 2021.
• The energy index increased 1.1 percent for the 12 months ending July. The energy index was unchanged over the month, after declining in the two preceding months.
• The food index increased 2.2 percent over the last year. The index for food increased 0.2 percent in July, as it did in June.

The index for all items less food and energy rose 0.2 percent in July, after rising 0.1 percent the preceding month. Indexes which increased in July include shelter, motor vehicle insurance, household furnishings and operations, education, recreation, and personal care. The indexes for used cars and trucks, medical care, airline fares, and apparel were among those that decreased over the month.