U.S. JULY CPI RISES 3.4% YEAR-OVER-YEAR — CORE INFLATION COOLS TO 2.5%

Description

U.S. consumer prices rose 0.1% in July, rebounding from a 0.4% decline in June. On a year-over-year basis, the Consumer Price Index (CPI) increased 3.4%, easing slightly from June’s 3.5% annual rate. Core CPI, which excludes volatile food and energy prices, rose 0.2% month-over-month and 2.5% year-over-year, down from 2.6% in June. Shelter costs were the primary driver of July’s increase, accounting for roughly two-thirds of the monthly rise in overall inflation. Food prices edged higher, while falling energy costs — particularly gasoline prices — helped limit broader inflationary pressure.