Consumer Prices Rise 0.5% in July As Gas, Food, and Shelter Prices Rise

Washington, DC—(ENEWSPF)—August 18, 2011.  The Consumer Price Index for All Urban Consumers (CPI-U) increased  0.5 percent in July on a seasonally adjusted basis, the U.S. Bureau  of Labor Statistics reported today. Over the last 12 months, the all  items index increased 3.6 percent before seasonal adjustment.

The gasoline index rebounded from previous declines and rose sharply  in July, accounting for about half of the seasonally adjusted  increase in the all items index. The food at home index accelerated  in July and also contributed to the increase, as dairy and fruit  indexes posted notable increases and five of the six major grocery  store food groups rose.

The index for all items less food and energy increased as well,  though the 0.2 percent increase was slightly smaller than the two  previous months. The shelter index accelerated in July, and the  apparel index again increased sharply. In contrast, the index for new  vehicles was unchanged after a long string of increases. The index  for household furnishings and operations was flat in July as well,  and the recreation index declined slightly.

The 12 month change in the all items index remained at 3.6 percent  for the third month in a row. The change in the index for all items  less food and energy continued its upward trend, rising to 1.8  percent in July, with the shelter and apparel indexes contributing  notably to the acceleration. The energy index has risen 19.0 percent  over the past year.

Consumer Price Index Data for July 2011

Food

The food index rose 0.4 percent in July after rising 0.2 percent in  June. The cereals and bakery products index fell 0.1 percent in July;  the other five major grocery store food groups all increased. The  dairy and related products index, which rose 0.5 percent in June,  increased 1.2 percent in July. The fruits and vegetables index also  rose 1.2 percent as the index for fresh fruits rose 3.7 percent. The  index for nonalcoholic beverages increased 0.9 percent in July as the  coffee index continued to rise sharply, while the index for meats,  poultry, fish, and eggs increased 0.5 percent and the index for other  food at home advanced 0.3 percent. The index for food away from home  rose 0.2 percent in July after rising 0.3 percent in June. Over the past 12 months, the food index has risen 4.2 percent with the food at  home index up 5.4 percent. All major grocery store food group indexes  have risen over the past year; the increases ranged from 3.5 percent  (other food at home) to 7.9 percent (dairy and related products).

 Energy

The energy index, which declined in May and June, increased 2.8  percent in July. The gasoline index, down 6.8 percent in June, rose  4.7 percent in July.  (Before seasonal adjustment, gasoline prices  fell 1.5 percent in July.) Over the past 12 months, the gasoline  index has increased 33.6 percent. The household energy index also turned up in July, rising 0.2 percent after a 1.2 percent decline in  June. The electricity index, which declined in June, rose 0.8 percent  and more than offset a 1.7 percent decline in the index for fuel oil  and a 1.2 percent decrease in the natural gas index. The household  energy index has risen 2.7 percent over the last 12 months, with the  fuel oil index up 37.2 percent and the electricity index up 2.0  percent but the index for natural gas down 2.8 percent.

All items less food and energy

The index for all items less food and energy rose 0.2 percent in July  after increasing 0.3 percent in both May and June. The shelter index  rose 0.3 percent in July, its largest increase since June 2008. The  indexes for rent and owners’ equivalent rent both rose 0.3 percent,  while the lodging away from home index increased 0.9 percent. The  index for medical care rose 0.2 percent, with the medical care  services index rising 0.3 percent while the index for medical care  commodities was unchanged. The apparel index continued to rise  sharply, increasing 1.2 percent in July; it has increased 3.9 percent  over the past three months. The index for used cars and trucks also  continued to rise, increasing 0.7 percent in July, and the airline  fare index turned up, rising 0.1 percent after falling in May and  June. The tobacco index rose as well; its 0.5 percent July increase  was its largest of the year. However, the index for new vehicles was unchanged in July after rising at least 0.6 percent in each of the  last five months. The indexes for personal care and household  furnishings and operations were also unchanged in July, while the  index for recreation fell 0.1 percent.

The 12 month change in the index for all items less food and energy reached 1.8 percent in July, continuing its steady rise from the  October 2010 low point of 0.6 percent. Most of its major component  indexes have risen more quickly in 2011 than they did in late 2010.

The 12 month change in the shelter index, which was negative as  recently as October 2010, reached 1.4 percent in July. The apparel  index has now increased 3.1 percent over the last 12 months, its  largest 12 month increase since July 1992.

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased  3.6 percent over the last 12 months to an index level of 225.922  (1982-84=100). For the month, the index increased 0.1 percent prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers

(CPI-W) increased 4.1 percent over the last 12 months to an index  level of 222.686 (1982-84=100). For the month, the index increased  0.1 percent prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U)  increased 3.5 percent over the last 12 months. For the month, the index increased 0.1 percent on a not seasonally adjusted basis.

Please note that the indexes for the post-2009 period are subject to  revision.

Source: bls.gov