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US CPI rises by 0.2 percent last month annually
(MENAFN) The US Department of labor has reported an increase in consumer prices for July. According to their statement, the Consumer Price Index (CPI) rose by 0.2 percent in July on an annual basis, following a 0.1 percent decline the previous month. This indicates a slight rebound in consumer prices after a period of deflation.
The core CPI, which excludes more volatile categories such as food and energy, also saw a 0.2 percent increase last month, up from a 0.1 percent rise in June. This suggests a steady trend in underlying inflation pressures.
On a broader scale, the annual increase in the overall Consumer Price Index was 2.9 percent in July, down slightly from 3 percent in June. Meanwhile, the core inflation rate, which excludes food and energy, decreased to 3.2 percent in July, compared to 3.3 percent the previous month. This reduction reflects a modest easing in core inflation pressures.
In contrast, producer prices (wholesale prices) showed a more modest increase than anticipated. The US Bureau of Labor Statistics noted that the Producer Price Index (PPI) for final demand rose by 0.1 percent month-over-month in July and was up 2.2 percent year-over-year. Additionally, the core wholesale price index, which excludes energy and food, remained unchanged from the previous month but increased by 2.4 percent compared to the same period last year. This indicates a slowdown in the rise of wholesale prices and reflects the first decline in service prices since the start of the year, amid ongoing declines in inflationary pressures.
The core CPI, which excludes more volatile categories such as food and energy, also saw a 0.2 percent increase last month, up from a 0.1 percent rise in June. This suggests a steady trend in underlying inflation pressures.
On a broader scale, the annual increase in the overall Consumer Price Index was 2.9 percent in July, down slightly from 3 percent in June. Meanwhile, the core inflation rate, which excludes food and energy, decreased to 3.2 percent in July, compared to 3.3 percent the previous month. This reduction reflects a modest easing in core inflation pressures.
In contrast, producer prices (wholesale prices) showed a more modest increase than anticipated. The US Bureau of Labor Statistics noted that the Producer Price Index (PPI) for final demand rose by 0.1 percent month-over-month in July and was up 2.2 percent year-over-year. Additionally, the core wholesale price index, which excludes energy and food, remained unchanged from the previous month but increased by 2.4 percent compared to the same period last year. This indicates a slowdown in the rise of wholesale prices and reflects the first decline in service prices since the start of the year, amid ongoing declines in inflationary pressures.
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