U.S. Annual Inflation Rate Up to 2% in July


In July of 2013, U.S. Consumer Price Index for All Urban Consumers (CPI-U) increased 2 percent over the last 12 months, from 1.8 percent recorded in June. For the month, on a seasonally adjusted basis the index increased 0.2 percent.

The all items index increased 2.0 percent over the last 12 months. The index for all items less food and energy has risen 1.7 percent over the last year; this compares to 1.6 percent for the 12 months ending June. The energy index has risen 4.7 percent over the last 12 months, its largest increase since the 12 months ending February 2012. The food index has risen 1.4 percent, the same figure as in May and June.

The index for all items less food and energy rose 0.2 percent in July, the third straight such increase. Along with the advances in the shelter and apparel indexes, the indexes for medical care, tobacco, and new vehicles all rose. In contrast, the indexes for household furnishings and operations, airline fares, and used cars and trucks all declined in July.

The rise in the seasonally adjusted all items index was the result of increases in a broad array of indexes including shelter, gasoline, apparel, and food. Despite the gasoline increase, the energy índex rose only 0.2 percent as the natural gas and electricity indexes declined. The increase in the food index was caused by a sharp rise in the fruits and vegetables index; other food indexes were mixed.

U.S. Annual Inflation Rate Up to 2% in July


U.S. Bureau of Labor Statistics | Joana Taborda | joana.taborda@tradingeconomics.com
8/15/2013 1:45:59 PM