CPI for all Items Rises 0.3% in July as Gasoline, Shelter Indexes Increase

In July, the Consumer Price Index for All Urban Consumers increased 0.3%, seasonally adjusted; rising 1.8% over the year, not seasonally adjusted.

The index for all items less food and energy rose 0.3% in July (SA); up 2.2% over the year (NSA).

Increases in the indexes for gasoline and shelter were the major factors in the seasonally adjusted all items monthly increase. The energy index rose in July as the gasoline and electricity indexes increased, though the natural gas index declined. The index for food was unchanged for the second month in a row, as a decline in the food at home index was offset by an increase in the food away from home index.

The index for all items less food and energy rose 0.3% in July, the same increase as in June. The July rise was broad-based, with increases in the indexes for shelter, medical care, airline fares, household furnishings and operations, apparel, and personal care all contributing to the increase. The index for new vehicles was one of the few to decline in July.

The all items index increased 1.8% for the 12 months ending July, a larger increase than the 1.6% rise for the period ending June. The index for all items less food and energy rose 2.2% over the last 12 months, slightly more than the 2.1% increase for the period ending June. The food index rose 1.8% over the last year while the energy index declined 2.0%.