US CPI rose 2.9% from the previous year in July and split 3% for the first time in about three and a half years

August 15, 2024 4:13 AM GMT+9 (some excerpts)

The July consumer price index (CPI) announced by the U.S. Department of Labor on the 14th rose 0.2% from the previous month, reversing from the 0.1% drop in June. There was a 2.9% increase compared to the previous year, and growth slowed from 3.0% the previous month. The year-on-year rate of increase fell below 3% for the first time since March 2021.
The economists' forecast compiled by Reuters was a 0.2% increase from the previous month and a 3.0% increase from the previous year.
Core CPI, which excludes food and energy components that fluctuate greatly, rose 0.2% from the previous month. It had risen 0.1% in June. There was a 3.2% increase compared to the previous year, and growth contracted from 3.3% in the previous month, to a low level since April 21.
Economists predicted a 0.2% increase from the previous month and a 3.2% increase from the previous year.