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July CPI +0.6%; Core +0.6%

US DATA
MNI (Washington)
  • U.S. CPI rose 0.6% in July, above market expectations for a 0.3% gain, the Bureau of Labor Statistics said Wednesday.
  • Energy prices increased 2.5% in July following a 5.1% gain in June, mostly driven by gasoline prices, which ticked higher by 5.6% in July, though still slowed from June's 12.3% increase.
  • Food prices fell 0.4% in July following a 0.6% increase in June. Prices of food consumed at home fell 1.1% in July, while the cost of dining out rose 0.5%.
  • Excluding food and fuel, CPI was up 0.6%, the largest increase sine 1991, the BLS said, and far above market expectations for a 0.2% increase.
  • Used vehicle prices rose 2.3% in July, and the cost of a new vehicle increased 0.8% following a flat reading in June.
  • Apparel prices were up 1.1% in July following a 1.7% gain in June.
MNI Washington Bureau | +1 202-371-2121 | brooke.migdon@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | brooke.migdon@marketnews.com

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