The Consumer Price Index for All Urban Consumers rose 0.1% on a seasonally adjusted basis in July, the Bureau of Labor Statistics reported Wednesday, rebounding from a 0.4% decline in June.
Over the past 12 months, the all-items index rose 3.4%, down from 3.5% for the 12 months ending in June
Shelter costs accounted for roughly two-thirds of the monthly increase, rising 0.1% in July. Food prices also increased 0.1% over the month, driven by a 0.3% rise in the index for food away from home. Energy prices fell 1.5% in July, following a 5.7% decline in June, as gasoline prices dropped 2.9%.
The index for all items less food and energy — often called core CPI — rose 0.2% in July after being unchanged in June. Over the past 12 months, the core index increased 2.5%, easing from a 2.6% annual gain recorded through June. Within core categories, the medical care index increased 0.4% in July.