United States Inflation

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United States: Inflation increases modestly in July

August 19, 2015

In July, consumer prices increased 0.1% over the previous month in seasonally-adjusted terms, which was below June’s 0.3% rise. The print fell short of market expectations of a 0.2% increase but marked the sixth straight month of increases. July’s result was mainly driven by higher prices for gasoline, housing and food.

Inflation came in at 0.2% in July, which was up from the 0.1% reading in June and marked the highest reading in seven months. Core consumer prices, which exclude food and energy prices, increased 0.1% in July after having increased 0.2% in June. The figure matched market expectations. Annual average core inflation held at June’s 1.7% in July.

FocusEconomics Consensus Forecast participants expect inflation to average 1.3% in 2015, which is down 0.4 percentage points from last month’s forecast. For 2016, the panel expects inflation to average 2.2%.


Author:, Economist

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USA Inflation July 2015

Note: Year-on-year and month-on-month variation of seasonally-adjusted consumer price index in %.
Source: Bureau of Labor Statistics.


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