The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2 percent in July on a seasonally adjusted basis, the same increase as in June, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.2 percent before seasonal adjustment. The index for shelter was by far the largest contributor to the monthly all items increase, accounting for over 90 percent of the increase, with the index for motor vehicle insurance also contributing. The food index increased 0.2 percent in July after increasing 0.1 percent the previous month. The index for food at home increased ... (full story)

Inflation pressures continue to ebb through most of the U.S. economy last month, although a rebound in airline, hotel and energy costs led to the first rise in overall consumer prices in over a year. Prices rose 3.2 percent in July from a year ago — outpacing June’s inflation rate of 3 percent and marking the first increase after 12 months of steady declines, according to data released Thursday by the Bureau of Labor Statistics. On a monthly basis, prices ticked up 0.2 percent between June and July. But economists say the bump is linked to temporary factors — including rebounding airline, hotel and energy prices — ... (full story)