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Business News | US CPI Moderates to 3.4 Per Cent YoY in July as Lower Energy Prices Offset Shelter, Food Pressures
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The shelter index increased 0.1 per cent and accounted for roughly two-thirds of the monthly increase, while food prices also rose 0.1 per cent.
The energy index fell 1.5 per cent month-on-month, while gasoline prices declined 2.9 per cent.
However, energy prices remained elevated compared with a year earlier, with the energy index up 14.7 per cent and gasoline prices rising 24.6 per cent.
Food prices rose 0.1 per cent during the month, although food-at-home prices declined 0.1 per cent.
Shelter prices increased 3.2 per cent over the year, while food prices rose 3.0 per cent.