By Casey Harper (The Middle Sq.)
Costs continued to rise within the month of July, newly launched federal inflation knowledge reveals.
The U.S Bureau of Labor Statistics on Thursday launched its Shopper Value Index, a key marker of inflation, which confirmed the all gadgets index rose 0.2% in July.
The identical index has risen 3.2% during the last 12 months, “barely greater than the three.0-percent improve for the 12 months ending in June.”
“The index for shelter was by far the most important contributor to the month-to-month all gadgets improve, accounting for over 90 p.c of the rise, with the index for motorized vehicle insurance coverage additionally contributing,” BLS mentioned. “The meals index elevated 0.2 p.c in July after growing 0.1 p.c the earlier month.
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“The index for meals at residence elevated 0.3 p.c over the month whereas the index for meals away from residence rose 0.2 p.c in July. The power index rose 0.1 p.c in July as the main power element indexes had been combined.”
The 0.2% improve in July is identical improve because the month earlier than.
“Indexes which elevated in June embody shelter, motorized vehicle insurance coverage, schooling, and recreation,” BLS mentioned. “The indexes for airline fares, used automobiles and vans, medical care, and communication had been amongst those who decreased over the month.”
Syndicated with permission from The Center Square.
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