The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent in July on a seasonally adjusted basis after rising 0.1 percent in June, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.8 percent before seasonal adjustment. Increases in the indexes for gasoline and shelter were the major factors in the seasonally adjusted all items monthly increase. The energy index rose in July as the gasoline and electricity indexes increased, though the natural gas index declined. The index for food was unchanged for the second month in a row, as a decline ... (full story)

American households paid more in July for goods and services such as gasoline and rent to nudge inflation higher, but not enough to arouse any worries or discourage the Federal Reserve from cutting interest rates again soon. The consumer price index rose 0.3% in July, the government said Tuesday, matching the forecast of economists polled by MarketWatch. The increase in the cost of living over the past 12 months climbed to 1.8% from 1.6%, but it’s still well below last year’s peak of 2.9%. Another closely watched measure of prices that strips out food and energy costs also rose 0.3% last month. The so-called core ... (full story)