July CPI Up About As Expected

2025-08-12 14:04:00 ET

By David W. Berson, Ph.D.

The monthly gains for the overall and core CPI price indices increased about as expected, up by 0.2 percent for the overall measure and 0.3 percent for the core (excluding the volatile food and energy components). As a result, the 12-month trend rate for the overall CPI remained at 2.7 percent, while the trend core rate accelerated to 3.1 percent. Both of these inflation measures remain above the Fed's 2.0 percent long-term goal, although the Fed prefers to use the broader price index for personal consumption expenditures (PCE)....

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