The US Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in July, after rising 0.3 percent in June, the US Bureau of Labour Statistics reported on Tuesday. Annual inflation stood at 2.7 per cent. Monthly, shelter costs, up 0.2 per cent, were the main driver of the monthly increase, while food prices were unchanged and energy prices fell 1.1 per cent, led by a 2.2 per cent drop in gasoline. Core inflation, excluding food and energy, rose 0.3 per cent in July and 3.1 per cent year-on-year (YoY). Over the past year, food prices climbed 2.9 per cent, with eggs surging 16.4 per cent, while energy prices declined 1.6 per cent as gasoline fell 9.5 per cent. Electricity and natural gas, however, rose 5.5 per cent and 13.8 per cent respectively. Attribution: Amwal Al Ghad English Subediting: Y.Yasser
