Today’s Lead Story
Sunday, August 16Inflation
July Inflation Held at 3.4% as Food and Core Costs Kept Climbing
via Bureau of Labor Statistics
The Consumer Price Index rose 0.1% in July and 3.4% over the past year, the Bureau of Labor Statistics reported on August 12. Food prices were up 3% year-over-year — groceries 2.7% and restaurant meals 3.4% — while core inflation, which strips out food and energy, came in at 2.5% annually.
Why it matters
At 3.4% annual inflation, everyday spending on groceries and dining out is still meaningfully more expensive than a year ago, so a regular budget review can help catch where costs have crept up most.
