08.12.2020
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 energy index increased 2.5 percent in July as the gasoline index rose 5.6 percent. This was partially offset by the food index which decreased 0.4 percent in July with the index for food at home declining 1.1 percent.
The index for all items less food and energy rose 0.6 percent in July its largest increase since January 1991. The index for motor vehicle insurance increased sharply in July as it did the previous month. The indexes for shelter communication used cars and trucks and medical care also increased in July while the index for recreation declined.
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. The food index increased 4.1 percent over the last 12 months with the index for food at home rising 4.6 percent. Despite increasing in July the energy index fell 11.2 percent over the last 12 months.
Next release is Friday September 11 2020 for the August 2020 Consumer Price Index.
