The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.5 percent in July on a seasonally adjusted basis after rising 0.9 percent in June, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 5.4 percent before seasonal adjustment. The indexes for shelter, food, energy, and new vehicles all increased in July and contributed to the monthly all items seasonally adjusted increase. The food index increased 0.7 percent in July as five of the major grocery store food group indexes rose, and the food away from home index increased 0.8 percent. The energy ... (full story)

Economists surveyed by Dow Jones expected the Labor Department to report the consumer-price index rose 5.3% in July from a year earlier, a touch slower than June’s 5.4%, but just under the highest 12-month rate since 2008. Economists expect to see an increase in the consumer price index of 0.5%. That compares with a 0.9% jump in June. Excluding energy and food, economists expect CPI rose by 0.4% last month, compared with the 0.9% increase in core in June. The economists estimated the so-called core price index to have risen 4.4% year over year. As one of the most-cited inflation gauges, the CPI measures changes in ... (full story)