U.S. consumer prices edge up 0.1% in July

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Source: MarketWatch

By Jeffry Bartash
[e-mail]
Published: Aug 19, 2015 8:30 a.m. ET
Reporter

WASHINGTON (MarketWatch) - Higher costs of housing helped nudge up consumer prices in July, but inflation is still generally muted, fresh government data show. The consumer price index rose a seasonally adjusted 0.1% in July, the Bureau of Labor Statistics said Wednesday. Economists polled by MarketWatch had expected a 0.2% gain. Food prices climbed 0.2% as the cost of all major grocery groups increased. Energy prices rose a smaller 0.1%. Excluding food and energy, so-called core consumer prices also advanced 0.1% in July. A 0.4% jump in the cost of shelter - the biggest since 2007 - spurred the increase. Prices for clothes and medical care also rose. Over the past 12 months the main CPI has risen by an unadjusted 0.2%. Core prices are up 1.8% in the same span. Real hourly wages, meanwhile, increased 0.1% in July. Real wages have risen 1.9% in the past 12 months, with weekly paychecks up a somewhat larger 2.2%.


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CPI for all items rises 0.1% in July as shelter index increases

Economic News Release
Consumer Price Index Summary USDL-15-1591

Transmission of material in this release is embargoed until 8:30 a.m. (EDT) Wednesday, August 19, 2015

Technical information: [phone] [e-mail] www.bls.gov/cpi
Media Contact: [phone] [e-mail]

CONSUMER PRICE INDEX – JULY 2015

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 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 rose 0.2 percent before seasonal adjustment.

The indexes for food, energy, and all items less food and energy all rose slightly in July. The food index rose 0.2 percent as all six major grocery store food group indexes increased. The energy index rose 0.1 percent as an increase in the gasoline index more than offset declines in other energy component indexes.
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Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent over the last 12 months to an index level of 238.654 (1982-84=100). For the month, the index was essentially unchanged prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) decreased 0.3 percent over the last 12 months to an index level of 233.806 (1982-84=100). For the month, the index was essentially unchanged prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) decreased 0.1 percent over the last 12 months. For the month, the index was virtually unchanged on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision.

The Consumer Price Index for August 2015 is scheduled to be released on Wednesday, September 16, at 8:30 a.m. (EDT).

U.S. housing costs continue to soar, CPI shows

By Jeffry Bartash
[e-mail]
Published: Aug 19, 2015 9:11 a.m. ET

Price of shelter posts biggest increase in more than eight years

WASHINGTON (MarketWatch) — Higher costs of housing are taking a bigger bite out of American incomes.

The consumer price index, or the cost of living, rose a scant 0.1% in July to mark the smallest increase in three months. Yet the cost of housing, the largest expense for most Americans, continued to rise, threatening bigger advances in consumer inflation in the near future unless prices ease up.

The cost of shelter rose 0.4% last month, reflecting the biggest gain in more than eight years. And housing expenses have climbed 3.1% in the past 12 months, the largest annual increase since 2008.

The cost of shelter has been climbing lately, as the lack of supply of both older and new homes pushes up prices. Builders are racing to construct more homes and apartments but prices will continue to rise unless demand abates or more properties become available.

The prices of most other consumer goods were little changed in July. Food prices climbed 0.2% while energy prices rose a smaller 0.1%.