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CPI Jumps Another 0.5% in July, 5.4% From a Year Ago (No Change)

The CPI jumped another 0.5% in July but year-over-year there was no change.
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CPI Year-Over-Year Percent Change NSA 2021-07

CPI Year-Over-Year

  • 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

CPI Month-Over-Month 2021-07

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.

Year-Over-Year Comments

The rent, shelter, and OER percent changes from a year ago seem absurdly low at 1.9%, 2.8%, and 2.4% respectively.

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