Connect With PPD
Follow Us:
Economy

Consumer Price Index (CPI) Flat in July, Gas Prices Declined

Consumer Price Index (CPI) reporting on gas prices from the Labor Department.

The Labor Department said Tuesday its Consumer Price Index (CPI) was unchanged in July on a seasonally adjusted basis, meeting the median forecast. The energy component declined 1.6% after rising in each of the last four months, due largely to decreases in gasoline prices.

Other energy indexes were mixed. The shelter index rose just 0.2%, its smallest increase since March. Prices for medical care, new vehicles, and motor vehicle insurance also rose.

Excluding the volatile food and energy components–the so-called core CPI–consumer prices were 0.1% higher, compared to expectations for another 0.2% gain as in June. The Federal Reserve, though using a separate measurement to gauge inflation, will not likely increase its benchmark interest rate until inflation picks back up to the target 2% level.

READ FULL STORY

SubscribeSign In
PPD Business Staff

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

Share
Published by
PPD Business Staff

Recent Posts

Media’s Worst Russian Collusion Sins May Soon Be Repeated

The most damning journalistic sin committed by the media during the era of Russia collusion…

1 year ago

Study: Mask-Mandates and Use Not Associated With Lower Covid-19 Case Growth

The first ecological study finds mask mandates were not effective at slowing the spread of…

3 years ago

Barnes and Baris on Big Tech’s Arbitrary Social Media Bans

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris note how big tech…

3 years ago

Barnes and Baris on Why America First Stands With Israel

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris discuss why America First…

3 years ago

Personal Income Fell Significantly in February, Consumer Spending Weaker than Expected

Personal income fell $1,516.6 billion (7.1%) in February, roughly the consensus forecast, while consumer spending…

4 years ago

Study: Infection, Vaccination Protects Against Covid-19 Variants

Research finds those previously infected by or vaccinated against SARS-CoV-2 are not at risk of…

4 years ago

This website uses cookies.