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MNI DATA ANALYSIS: US July CPI Rose 0.2%, Core Up 0.2%>

--Overall CPI Stays At +2.9% Y/Y, Core Ticks Up To +2.4% Y/Y
By Kevin Kastner, Shikha Dave, and Harrison Clarke
     WASHINGTON (MNI) - The July CPI data suggested that consumer 
inflation rose modestly in July, with the headline and core measures as 
expected, and the year/year rate for the core measure up, data released 
Friday morning by the Bureau of Labor Statistics showed. 
     Overall CPI posted a 0.2% increase, as analysts and markets 
expected, while the core CPI rose 0.2%, also the gain expected for that 
measure after rounding. 
     Unrounded, the month/month rise for overall CPI was +0.171%, while 
the unrounded increase for core CPI was +0.243%, so very close to being 
rounded up to a 0.3% increase.
--CORE YEAR/YEAR PRICES TICK UP
     Overall, the data point to upward progress in consumer inflation, 
as the year/year rate for the core measure rose. 
     The year/year rate for overall CPI stayed at 2.9%, while the 
year/year rate for core CPI rose to 2.4% from 2.3%, the strongest gain 
since September 2008. 
--RENTS, VEHICLES PRICES BOTH HIGHER
     The large owners' equivalent rents category rose 0.3%, while 
medical care prices fell 0.2%, new vehicle prices increased 0.3% and 
used vehicles prices rose 1.3%. 
     Energy prices fell by 0.5% for July after a 0.3% decrease in June, 
with gasoline prices down 0.6%, electricity prices down 0.4%, and gas 
utilities prices down 0.5%. Energy prices were down 0.9% unadjusted, a 
larger decline than seasonal adjustment factors look for in mid-summer. 
CPI excluding only energy was still up 0.2%. 
     Food prices were up 0.1% in July, with food at home prices up 
0.2% and food away from home prices up 0.1%. 
     ** MNI Washington Bureau: 202-371-2121 ** 
[TOPICS: MAUDS$,MT$$$$,M$U$$$] 

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