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Here's the Breakdown for US July CPI, in One Chart
In July 2024, the US annual inflation rate continued its downward trend for the fourth month in a row, reaching 2.9% — a level not seen since March 2021 and a slight decrease from June's 3%. Month-over-month, the CPI saw a 0.2% increase, aligning with predictions. This rise was primarily driven by the shelter index, which went up by 0.4% and contributed to nearly 90% of the overall monthly increase in inflation.
Core inflation, which excludes volatile food and energy prices, also experienced a deceleration for the fourth consecutive month, dropping to 3.2%, the lowest rate since April 2021, from 3.3% in the preceding month. Additionally, the rate of monthly core inflation rose modestly to 0.2%, up from 0.1%.
Food costs were up 2.2% compared with one year ago, consistent with last month.
Energy costs increased by 1.1% YoY, after increasing by 1.0% YoY in June.
Used cars and trucks prices decreased by 10.9% YoY, after decreasing by 10.1% last month.
Shelter costs were up 5.1% compared with one year ago, after increasing by 5.2% YoY last month.
Related Article: Here's the Breakdown for US June CPI, in One Chart
By Moomoo North America Team Calvin
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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Kadir Lebang :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
N8TIV3 : WEIRD CAUSE THE FOOD PRICES HAVE ONLY RISEN SINCE SLEEPY JOE TOOK OVER
103347960 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
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Bruce Cha :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
gancheong spider N8TIV3 : bcos felon trump didnt manage the covid well at the onset. lol
affable Blobfish_403 : If the data is real, it is useful for determining trends.
Daveth3trad3r N8TIV3 : Trump left us a horrible economy the Biden administration has been trying to clean it up.
102173860 : Consecutive 4 month drop. Which mean rate cut is coming for sure on Sept 2024....lol, This was after 10 months speculation since last year..
Steven Siebert N8TIV3 : SMH gotta love uneducated meaningless statements biden doesnt control inflation
JonSnow N8TIV3 : sure, cause sleepy Putin made a war
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