Fundamental Analysis

U.S Consumer Prices Rose Slightly in July

Typography
  • U.S July Consumer Prices +0.1%; Consensus +0.2%
  • US Jul CPI Ex-Food & Energy +0.1%; Consensus +0.2%
  • US Jul Consumer Prices Increase 1.7% From Year Earlier; Core CPI Up 1.7% Over Year

Data this morning showed that U.S inflation remained subdued in July, extending a slowdown this year.

The consumer-price index increased +0.1% in July m/m, excluding the often-volatile categories of food and energy, core-prices also rose +0.1%.

Market consensus was expecting the overall and core prices to both advance +0.2% on the month.

From a year earlier, overall consumer prices climbed +1.7%, as did core prices.

The Fed's preferred measure of inflation, the price index for personal-consumption expenditures, was unchanged in June from the prior month, the second straight flat reading. It was up +1.4% in June from a year earlier and has dropped for four consecutive months on an annual basis, from +2.2% in February.

Note: The consumer-price index tends to run a little bit higher than the personal-consumption index, reflecting different methods for calculating inflation.

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