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August 12, 2020US CONSUMER PRICE INDEX, JULY 2020 The US Consumer Price Index for All Urban Consumers increased 0.6 per cent in July (seasonally adjusted monthly growth), the same increase as in June 2020.
The continued increase in gasoline prices (+5.6%) accounted for about one quarter of the monthly increase in the all items index in July. With gasoline prices on the rise, the energy index increased 2.5 per cent in July 2020. This increase was partly offset by the decline in the food index (-0.4%).
The index for all items less food and energy increased 0.6 per cent in July, posting the largest month-over-month increase since January 1991. The indexes for motor vehicle insurance, shelter, communication, used cars and trucks, and medical care also increased in July, while the index for recreation declined.
Year-over-year (July 2020 compared to July 2019) consumer prices were up 1.0 per cent (not seasonally adjusted). For the previous 12 months, the index for all-items less food and energy increased 1.6 per cent. The food index was up 4.1 per cent while the energy index declined 11.2 per cent.
Note: Canada and Nova Scotia July 2020 CPI figures will be released August 19, 2020.
Source: US Bureau of Labor Statistics, Statistics Canada CANSIM table 18-10-0004-01
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