August 2022 Consumer Price Index Summary

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8:30 a.m. (ET) August 10, 2022 USDL-22-1625

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CONSUMER PRICE INDEX - JULY 2022

The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in July on a seasonally

adjusted basis after rising 1.3 percent in June, the U.S. Bureau of Labor Statistics reported today.

Over the last 12 months, the all items index increased 8.5 percent before seasonal adjustment.

The gasoline index fell 7.7 percent in July and offset increases in the food and shelter indexes,

resulting in the all items index being unchanged over the month. The energy index fell 4.6 percent

over the month as the indexes for gasoline and natural gas declined, but the index for electricity

increased. The food index continued to rise, increasing 1.1 percent over the month as the food at

home index rose 1.3 percent.

The index for all items less food and energy rose 0.3 percent in July, a smaller increase than in

April, May, or June. The indexes for shelter, medical care, motor vehicle insurance, household

furnishings and operations, new vehicles, and recreation were among those that increased over the

month. There were some indexes that declined in July, including those for airline fares, used cars

and trucks, communication, and apparel.

The all items index increased 8.5 percent for the 12 months ending July, a smaller figure than the

9.1-percent increase for the period ending June. The all items less food and energy index rose 5.9

percent over the last 12 months. The energy index increased 32.9 percent for the 12 months ending

July, a smaller increase than the 41.6-percent increase for the period ending June. The food index

increased 10.9 percent over the last year, the largest 12-month increase since the period ending

May 1979.