BLS Releases July 2017 Consumer Price Index (Aug 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: