INFLATION INCREASED IN JULY AFTER YEARLONG SLOWDOWN

Key Points:

  • The Consumer Price Index (CPI) rose 0.2% in July, the same reading as June.
  • CPI increased 3.2% from a year ago, up from 3.0% in June, and the first increase since June 2022.
  • The index for energy rose 0.1% over the month, food rose 0.2%, and shelter increased by 0.4% over the month.
  • The core CPI, which excludes food and energy, rose 0.2% in July and is up 4.7% from the previous year.
  • The energy index is down 12.5% and the food index is up 4.9% from the previous year.
  • The Right Facts will continue to monitor CPI.
Source