US Inflation Still Highest in Over a Decade

Source: Bureau of Labor Statistics

US inflation stood steady at a 13-year high in July, as supply issues and heightened demand impacted prices of goods during the period.

• Annual inflation remained at 5.4% in July, unchanged from June. This is the highest since 2008.
• Core inflation, which excludes food and energy, rose stood at 4.3%. 
• The food index climbed 3.4%, higher than the 2.4% increase recorded in June. Food at home increased 2.6%, and food away from home grew 2.6%.
• The energy index jumped 23.8%, as energy commodities grew 41.2%, gasoline by 41.8%, and fuel by 39.1%.
• Used cars and trucks gained 41.7%, while new vehicles rose 6.4%. Transportation services increased by 6.4%.
• The only decline was recorded in medical care commodities, which fell 2.1%.