U.S. July CPI Up 2.7% Year-on-Year, Below Expectations

The U.S. Department of Labor announced on August 12 (local time) that the U.S. Consumer Price Index (CPI) for July rose by 2.7% compared to the same month last year.

According to the Department of Labor, the CPI for July increased by 0.2% from the previous month. The year-over-year increase in the headline index was lower than the expert forecast of 2.8%, while the month-over-month increase was in line with expectations.

The core CPI, which excludes the volatile energy and food sectors, rose by 3.1% year-over-year and by 0.3% month-over-month. Both the annual and monthly increases in the core index matched expectations.