U.S. Consumer Price Index (CPI) Rises 0.2% in July, Meeting Expectations

The U.S. Consumer Price Index (CPI) increased by 0.2% in July, slightly slowing from June’s 0.3% rise and aligning with Reuters’ forecasts. Shelter costs were the main contributor, rising 0.2% during the month. Food prices overall remained steady, with food away from home climbing 0.3%, while food at home declined by 0.1%. Meanwhile, energy prices dropped 1.1%, led by a 2.2% fall in gasoline prices. Over the past year, the CPI rose 2.7% before seasonal adjustments, indicating moderate inflation pressures continue to persist. This number was lower than overall market expectations of 2.8%.