Annual Inflation Rate Eases Slightly

By Staff Writer August 11, 2022 230

The Consumer Price Index for All Urban Consumers was unchanged in July on a seasonally adjusted basis after rising 1.3 percent in June, the U.S. Bureau of Labor Statistics reported Aug. 10.

Over the last 12 months, the all-items index increased 8.5 percent before seasonal adjustment.

The gasoline index fell 7.7 percent in July and offset increases in the food and shelter indexes, resulting in the all-items index being unchanged over the month.

There were some indexes that declined in July, including those for airline fares, used cars and trucks, communication, and apparel.

The energy index fell 4.6 percent over the month as the indexes for gasoline and natural gas declined, but the index for electricity increased.

The food index continued to rise, increasing 1.1 percent over the month as the food at home index rose 1.3 percent.ย 

The index for all items less food and energy rose 0.3 percent in July, a smaller increase than in April, May, or June. The indexes for shelter, medical care, motor vehicle insurance, household furnishings and operations, new vehicles, and recreation were among those that increased over the month.

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Last modified on Thursday, 11 August 2022 00:56