US inflation eases as food costs cool
Summary
In the year ending July, U.S. prices increased by 3.4%, which is a small drop from the 3.5% rise seen in June. Monthly inflation went up by 0.1%, mainly because housing costs increased, while food prices rose slowly and energy prices fell.Key Facts
- Inflation rose 3.4% from July last year, down slightly from 3.5% in June.
- Prices went up 0.1% from June to July.
- Housing costs, especially rent, caused most of the monthly price increase.
- Food prices increased only a little in July and more slowly than in June.
- Energy prices dropped, helping to lower overall costs for consumers.
- Prices without food and energy went up 0.2% in July after no change in June.
- Medical care and airline tickets became a bit more expensive.
- Car insurance prices decreased during this period.
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