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Inflation remains muted

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Inflation remains muted

Core CPI increases 0.1% in July, 1.9% over last 12 months.

The Consumer Price Index increased 0.1% in July on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.0% before seasonal adjustment.

The increase was in line with expectations.

Energy prices fell after rising in each of the last three months. Gasoline prices fell 0.3% percent last month after increasing 3.3% in June.

Food prices increased 0.4% after rising 0.1% in June.

The index for all items less food and energy, know as “core” CPI, also rose 0.1% in July.

Core CPI has increased 1.9% over the last 12 months. 

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