CPI Increased 0.2% in July; Core CPI increased 0.3%

by Calculated Risk on 8/12/2025 08:30:00 AM

From the BLS:

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis in
July, after rising 0.3 percent in June, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months,
the all items index increased 2.7 percent before seasonal adjustment.

The index for shelter rose 0.2 percent in July and was the primary factor in the all items monthly increase. The
food index was unchanged over the month as the food away from home index rose 0.3 percent while the food at home
index fell 0.1 percent. In contrast, the index for energy fell 1.1 percent in July as the index for gasoline
decreased 2.2 percent over the month.

The index for all items less food and energy rose 0.3 percent in July, following a 0.2-percent increase in June.
Indexes that increased over the month include medical care, airline fares, recreation, household furnishings and
operations, and used cars and trucks. The indexes for lodging away from home and communication were among the few
major indexes that decreased in July.

The all items index rose 2.7 percent for the 12 months ending July, after rising 2.7 percent over the 12 months
ending June. The all items less food and energy index rose 3.1 percent over the last 12 months. The energy index
decreased 1.6 percent for the 12 months ending July. The food index increased 2.9 percent over the last year.
emphasis added

The change in core CPI was above expectations. I’ll post a graph later today after the Cleveland Fed releases the median and trimmed-mean CPI.