The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent 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 percent before seasonal adjustment.
The rise in the seasonally adjusted all items index was the result of
increases in a broad array of indexes including shelter, gasoline,
apparel, and food. Despite the gasoline increase, the energy index
rose only 0.2 percent as the natural gas and electricity indexes
declined. The increase in the food index was caused by a sharp rise
in the fruits and vegetables index; other food indexes were mixed.
The index for all items less food and energy rose 0.2 percent in
July, the third straight such increase. Along with the advances in
the shelter and apparel indexes, the indexes for medical care,
tobacco, and new vehicles all rose. In contrast, the indexes for
household furnishings and operations, airline fares, and used cars
and trucks all declined in July.
The all items index increased 2.0 percent over the last 12 months.
The index for all items less food and energy has risen 1.7 percent
over the last year; this compares to 1.6 percent for the 12 months
ending June. The energy index has risen 4.7 percent over the last 12
months, its largest increase since the 12 months ending February
2012. The food index has risen 1.4 percent, the same figure as in May
Original content +Bob DeMarco , All American Investor