July Consumer Price Index Remains Unchanged from Previous Month

Although inflation eases a bit from last month’s 9.1 percent annual change, index is still 8.5 percent higher than a year ago.

Prices for Gasoline, the most volatile product in the index, fell by 7.7 percent for the month but remains 44 percent higher than a year ago.
Energy as a broad category, which includes electricity and other home-related sources, is up by 33 percent vs. last year, the highest since a brief period in 2004.
Food, the other non-core component, is 10.9 percent above a year ago, increasing by a substantial 1.1 percent over June.
Prices of New Vehicles are 10.4 percent higher than a year ago, while increases for Used Vehicles continue to ease and are currently 6.6 percent higher.
The last two categories exceeding the annual 8.5 percent rise are Household Furnishings, with 10.1 percent gain, and Transportation Services, up by 9.5 percent.
Among the major categories within our industry, Windows are 21 percent higher than a year ago, maintaining the pace of the past four months, while Household Appliances and Major Appliances are moderating, up by 5.3 percent and 4.6 percent, respectively.