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HomeNewsEconomyConsumer Price Index (CPI) Continues to Show Weak Inflation in July

Consumer Price Index (CPI) Continues to Show Weak Inflation in July

Consumer Price Index (CPI) Graphic
Consumer Price Index (CPI) Graphic

Consumer Price Index (CPI) Graphic

The Consumer Price Index (CPI) for All Urban Consumers (CPI-U) rose by just 0.1%, indicating weaker-than-expected inflation pressure in July.

The median consensus forecast called for a slightly larger 0.2% gain. During the last 12 months, the CPI showed consumer prices rose by 1.7%, slightly higher than in June but below the 1.8% expected.

The so-called core CPI, which excludes food and energy, also rose by 0.1% in July, missing the 0.2% forecast. It’s the fourth month in a row that the core CPI increased by 0.1%. For the year, the core CPI also rose by 1.7%, unchanged from June. The Econoday consensus forecast called for a 1.8% gain.

The energy index fell slightly by 0.1% in July and its major component indexes were mixed. The index for natural gas fell, while the electricity index rose and the gasoline index was unchanged.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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