By Tom Burnett CFA
On August 11, 2021, the Bureau of Labor Statistics reported the consumer price index information for the month of July. The CPI increased by 0.5% in July, down from an increase of 0.9% in June. The July increase was the lowest rate since the 0.4% for the month of February. Over the past 12 months, the CPI has increased by 5.4%. This 5.4% rate is identical with the 12-month rate for June.
The Core rate (excluding food and energy) rose 0.3% in July, after increasing by 0.9% in June. Over the past 12 months, the Core rate has increased by 4.3%. The July increase of 0.3% was the smallest monthly increase in four months.
The next CPI report will be issued on September 14, 2021
Tom Burnett CFA is Director of Research