08.11.2017
The Bureau of Labor Statistics (BLS) released its report on the July 2017 Consumer Price Index (CPI) today.
On a seasonally-adjusted basis the Consumer Price Index for All Urban Consumers (CPI-U) rose slightly in July with an increase of 0.1%. Unadjusted the index for all items saw a 1.7% increase over the past 12 months.
The energy index decreased for the third month in a row in July dropping 0.1%. Most noticeable is the drop in the index for piped utility gas which dropped 2.3% on a seasonally-adjusted basis.
The food index rose 0.2% in July after experiencing no change in June. The beef and veal index continued to rise in July but at a slower rate seeing an increase of 1.2%.
The index of all items less food and energy saw an increase of 0.1% in July. In particular the shelter index—a measure of rent mortgage payments and lodging—rose 0.1% in July its smallest increase since March. Reflected in the shelter index was the sharp decline of 4.2% in the cost of lodging away from home.
In a separate BLS report average weekly earnings for private-sector workers adjusted for inflation increased 0.2% in July from the prior month. A year earlier inflation-adjusted weekly earnings were up 1.1%.
The next CPI release is scheduled for Thursday September 14.
The full release including data summaries and more information can be accessed via the PDF below:
