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.
Author: Carl Kelly, Economist