The Consumer Price Index (CPI) rose 1.2% on a year-over-year basis in July, following a 1.0% gain in June. Prices were up in six of the eight major components in the 12 months to July, with the transportation and shelter indexes contributing the most to the year-over-year rise in the CPI. The household operations, furnishings and equipment index and the clothing and footwear index declined on a year-over-year basis. Chart 2 Chart 2: Consumer prices increase in six of the eight major components Consumer prices increase in six of the eight major components Chart 2: Consumer prices increase in six of the eight major ... (full story)