The Consumer Price Index (CPI) of the United States moderated in July to 3.4% year-on-year, one-tenth less than the increase of 3.5% recorded in June, according to data published by the Bureau of Labor Statistics of the Department of Labor.
The evolution of prices in July was again marked by the notable increase in energy costs, which rose by 14.7% compared to the same month of the previous year, although with somewhat less intensity than observed in June. For its part, the cost of food increased by 3%, in line with the behavior of the previous month.
As a result, core inflation, which excludes the volatility of energy and fresh food, stood at 2.5%, one-tenth below the 2.6% recorded in June.
In monthly terms, the overall inflation rate rose by one-tenth in July, after the decrease of 0.4% in the previous month. This change was accompanied by a drop of 1.7% in the monthly price of energy, following the decline of 5.7% recorded a month earlier. In turn, the food price index rose by one-tenth, that is, half of the increase observed in June.