By Nick Dobbins
August 2021
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.5% in July on a seasonally adjusted basis after rising 0.9% in June, the U.S. Bureau of Labor Statistics reported. The indices for shelter, food, energy, and new vehicles all increased. The food index increased 0.7% as five of the major grocery store food group indices rose, and the food away from home index increased 0.8%. The energy index rose 1.6%, as the gasoline index increased 2.4% and other energy component indices also rose. The index for all items less food and energy rose 0.3% in July after increasing 0.9% in June. Along with shelter and new vehicles, the indices for recreation, for medical care, and for personal care increased. The index for used cars also increased in July, but the 0.2% advance was much smaller than in recent months. The index for motor vehicle insurance declined in July, and the index for airline fares fell slightly.
The all items index rose 5.4% for the 12 months ending July, the same increase as the period ending June. The index for all items less food and energy rose 4.3% over the last 12 months, while the energy index rose 23.8%. The food index increased 3.4% for the 12 months ending July, compared to a 2.4% rise for the period ending June.
