The Consumer Price Index, a measure of the average price level of a basket of consumer goods and services, was unchanged for the month of July from June, while the core CPI rate, excluding energy and food, rose 0.1%. On a year-over-year basis, consumer prices were down 2.1%, marking their sharpest decline since 1950.
Here is a breakdown of the inflation benchmark to show you where costs are rising most. According to the Labor Department, a 28.1% drop in the index from its July 2008 peak has offset an increase of 1.5% for all items excluding food and energy in the past twelve months.
- CPI: Unch. 0.0%
- Ex Food & Energy: Up +.1%
- Food: Up -.25%
- Energy: Up -.35%
- Housing: Down -.17%
- Apparel: Up + .57%
- Transportation: Up +0.19%
- Medical Care: Up +.17%
- Recreation: Up +.02%
- Education & Communication: Up +.30%
- Other Goods & Svcs: Up +.77%
The change in core CPI figures show that at least for now, inflation is not an issue. Following the news, the futures are pointing down this morning. In the pre-markets, 3M Company , Boeing , Cisco Systems , Intel , and Wal Mart Stores are weighing on the Dow.
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