Data released just moments ago by the US Bureau of Labor Statistics showed that the Consumer Price Index (CPI), a measure of inflation, rose 0.2% in July after rising by approximately 0.3% in June, matching expectations. The core CPI, which excludes food and energy prices, rose 0.3% compared to 0.2% in June, matching expectations.
On the other hand, the annual CPI rose to 2.7% over the past 12 months, from 2.7% in June, below expectations of a 2.8% increase. The core CPI rose to 3.1% from 2.9%.
In detail, the food index rose 2.9%, up from 3% in May, year-on-year, and increased by approximately 0.3% in June. The energy index declined by 1.6% in July, year-on-year, after declining by approximately 1.1% month-on-month in July.