PiCK
US July CPI Rises 3.4%, Matching Forecasts
JOON HYOUNG LEE
Summary
- The U.S. Consumer Price Index (CPI) rose 3.4% in July from a year earlier, matching economists’ forecasts.
- July CPI rose 0.1% from the previous month, in line with market expectations.
- U.S. CPI has trended lower, at 4.2% in May, 3.5% in June and 3.4% in July.
Forecast Trend Report by Period
U.S. consumer prices rose 3.4% in July from a year earlier, matching market expectations.
The Bureau of Labor Statistics said on August 12 that the consumer price index increased 3.4% last month from a year earlier, in line with economists’ forecast. That was down 0.1 percentage point from June’s 3.5% gain.
On a monthly basis, the index rose 0.1%, matching market expectations.
Core CPI, which excludes volatile food and energy prices, rose 2.5% from a year earlier, slowing from 2.6% in June. It increased 0.2% from the previous month.
U.S. CPI rose 4.2% in May from a year earlier, the highest since April 2023, when it reached 4.9%. It has since eased to 3.5% in June and 3.4% in July.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul