The Consumer Price Index increased 0.6% in July on a seasonally adjusted basis, according to the U.S. Bureau of Labor Statistics. Over the last 12 months, the all items index increased 1.0%.
Prices for all items less food and energy, the “core CPI,” rose 0.6% in July, the largest increase since January 1991.
The food index decreased 0.4% in July, after rising 0.6% in June. This is the indexes first decline since April 2019. Prices for food at home decreased in July, falling 1.1%, while food away from home increased modestly, rising 0.5%.
The energy index increased 2.5% in July, following a 5.1% rise in June, led by increases in gasoline and electricity.
Read the BLS release.