In July, US CPI was at 0.0% mom, below expectation of 0.2% mom. CPI core rose 0.3% mom, below expectation of 0.5% mom. Gasoline index dropped sharply by -7.7% mom. Energy index dropped -4.6 mom. But food index rose 1.1% mom.
For the last 12 months, CPI slowed from 9.1% yoy to 8.5% yoy, below expectation of 8.7% yoy. CPI core was unchanged at 5.9% yoy, below expectation of 6.1% yoy. Energy index rose 32.9% yoy, slowed from 4.16% yoy. Food index rose 10.9% yoy, highest since May 1979.
