Economic Buzz: US Consumer price index up 3.4% on year, records lowest rise in four months

The US Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 percent on a seasonally adjusted basis in July after falling 0.4 percent in June, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all-items index increased 3.4 percent before seasonal adjustment.

The index for shelter rose 0.1 percent in July, accounting for roughly two-thirds of the monthly all items increase. The index for food also increased 0.1 percent over the month, as the index for food away from home increased 0.3 percent. However, the energy index declined 1.5 percent in July. The index for all items less food and energy rose 0.2 percent after being unchanged in June.

The all-items index rose 3.4 percent for the 12 months ending July after rising 3.5 percent for the 12 months ending June. The all items less food and energy index rose 2.5 percent over th

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