Consumer Prices Rose in July

Consumer prices increased by 0.2% in July on a seasonally adjusted basis, following a 0.3% increase in June (Bureau of Labor Statistics).

• Prices rose 2.7% for the 12 months ending July, after increasing 2.7% over the 12 months through June.

Shelter costs: The primary reason for the monthly increase in July was an uptick in shelter prices by 0.2%. Food prices remained unchanged, while energy prices fell 1.1% due a notable 2.2% decrease in gasoline prices over the month.

Prices less food and energy: The index less food and energy rose 0.3% percent in July, following a 0.2% increase in June.

• Prices increased for medical care, airline fares, recreation, household furnishings and operations, and used cars and trucks.