Consumer Price Index Unchanged In July

The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in July on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today.

Over the past 12 months, the all items index increased 1.4 percent before seasonal adjustment, compares to 1.7 percent in June and is the smallest 12-month change since November 2010. Major indexes posted small movements in July, with a 0.3 percent decline in the energy index offsetting 0.1 percent increases in the indexes for food and all items less food and energy.

Within energy, declines in the indexes for electricity, natural gas, and fuel oil more than offset a small increase in the gasoline index.

Within the food component, the food at home index was unchanged with major grocery store food group indexes mixed, while the food away from home index increased. The index for all items less food and energy rose 0.1 percent in July, ending a streak of four consecutive 0.2 percent increases.

The shelter index rose 0.1 percent for the second month in a row. The indexes for medical care, tobacco, household furnishings and operations, and apparel also increased, while the indexes for airline fares, used cars and trucks, recreation, and new vehicles all declined.