There is no price inflation, that is if you don’t eat, drive a car or live under a roof.
A new report from the Department of Labor found that the consumer price index (CPI) inched higher by 0.1 percent in July due to rising food, gasoline and shelter prices. However, the CPI is down from 0.3 percent in the month of June. In the 12 months through July, the CPI edged higher 0.2 percent.
Last month, gas prices jumped 0.9 percent, after climbing 3.4 percent in June. Food prices rose 0.2 percent, down from 0.3 percent in June – food away from home went up 2.7 percent. Shelter experienced its biggest increase since Feb. 2007 as it increased 0.4 percent. Rents shot up 0.3 percent. There were also gains in medical care costs and apparel prices, 0.2 percent and 0.3 percent, respectively.
Egg prices soared 3.3 percent, down from the previous month’s 18.3 percent increase.
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