Wednesday, August 12, 2020

BLS: CPI increased 0.6% in July, Core CPI increased 0.6%

by Calculated Risk on 8/12/2020 08:31:00 AM

From the BLS:

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6 percent in July on a seasonally adjusted basis, the same increase as in June, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.0 percent before seasonal adjustment.

The gasoline index continued to rise in July after increasing sharply in June and accounted for about one quarter of the monthly increase in the seasonally adjusted all items index. ...

The index for all items less food and energy rose 0.6 percent in July, its largest increase since January 1991. ...

The all items index increased 1.0 percent for the 12 months ending July, a larger increase than the 0.6-percent rise for the period ending June. The index for all items less food and energy increased 1.6 percent over the last 12 months.
emphasis added
Overall inflation was above expectations in July. I'll post a graph later today after the Cleveland Fed releases the median and trimmed-mean CPI.