By Tom Burnett CFA
On August 14, 2024, the Bureau of Labor Statistics released its CPI report for July. The Index rose 0.2% in July, following an increase of 0.1% in June. The 12-month increase was 2.9%, the lowest rate of yearly increase since March 2021.
The Core Index, excluding food and energy, rose 0.2%, after an increase of 0.1% in June. The year-over-year rate was 3.2%, the smallest 12- month increase since April 2021.
Energy prices rose 1.1% over the past year, while food prices increased by 2.2% from the prior year.
The next CPI report will be issued on September 11, 2024.
Tom Burnett CFA is Director of Research