- The all items index rose 5.4 percent for the 12 months ending July, the same increase as the period ending June.
- The index for all items less food and energy rose 4.3 percent over the last 12 months
- The energy index rose 23.8 percent.
- The food index increased 3.4 percent for the 12 months ending July, compared to a 2.4-percent rise for the period ending June.
- Rent of primary residence is allegedly up 1.9% from a year ago.
- OER is allegedly up 2.8% from a year ago.
- Shelter is allegedly up 2.2% from a year ago.
CPI Month-Over-Month Details
- 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 indexes for shelter, food, energy, and new vehicles all increased in July .
- The food index increased 0.7 percent in July as five of the major grocery store food group indexes rose
- Food away from home index increased 0.8 percent.
- The energy index rose 1.6 percent in July, as the gasoline index increased 2.4 percent and other energy component indexes also rose.
- The index for all items less food and energy rose 0.3 percent in July after increasing 0.9 percent in June.
- The index for used cars also increased 0.2-percent.
- The index for motor vehicle insurance declined in July, and the index for airline fares fell slightly.
Details are from the BLS Consumer Price Index Report for July.
The rent, shelter, and OER percent changes from a year ago seem absurdly low at 1.9%, 2.8%, and 2.4% respectively.
Given huge increases in reported rents, the BLS measures seem more than a little bit on the low side.
"Inflation is Half Our Mandate"
The Fed called price hikes a "Welcome" Rise in Inflation
Also note Fed Chair Powell's slip in which he said "Inflation is Half Our Mandate"
The Fed got far more than it bargained for and the economy is overheating.
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