The Consumer Price Index (CPI) rose 0.1% on a year-over-year basis in July, down from a 0.7% increase in June. Excluding gasoline, the CPI rose 0.7%. On a seasonally adjusted monthly basis, the CPI fell 0.1% in July. Prices rose in five of the eight major components on a year-over-year basis in July. The CPI grew at a slower pace than in June as a result of a broad-based slowdown in price growth, spanning both goods and services. Growth slowed the most in the transportation component, mostly due to the air transportation index. In July, air transportation prices (-8.6%) fell for the first time on a year-over-year ... (full story)