PRICES INCREASED OVER THE MONTH, CORE PRICES REMAIN HIGH

Key Points:

  • The Consumer Price Index (CPI) rose 0.2% in July after falling 0.1% in June.
  • CPI increased 2.9% from a year ago, down from 3.0% in June and consensus of 3.0%.
  • This is the first time CPI has come in below 3% since March 2021.
  • The index for shelter rose 0.4%, the index for food rose 0.2%, and the energy index was unchanged over the month.
  • The index for food at home rose 0.1% over the month while the index for food away from home rose 0.2%.
  • The core CPI, which excludes food and energy, rose 0.2% in July and is up 3.2% from the previous year.
  • The energy index is up 1.1%, the food index is up 2.2%, and shelter is up 5.1% from the previous year.
  • The Right Facts will continue to monitor CPI.
Source