In July, the annual inflation in America decreased for the fourth time in a row, which fell to the level of March 2021, and it was predicted that it will not change.
Annual price growth slowed from three percent to 2.9 percent. Core annual inflation, which excludes the effects of energy resources and food prices, fell from 3.3 to 3.2 percent, which was in line with expectations. This indicator also fell for the fourth month in a row and reached the lowest level since April 2021.
In July, annual price pressures decreased in housing rent (from 5.2 to 5.1 percent), transport services (from 9.4 to 8.8 percent) and clothing (from 0.8 to 0.2 percent). In addition, prices for new vehicles (from 0.9 to 1 percent) and used cars and trucks (from 10.1 to 10.9 percent) continued to decline, while annual food inflation remained at 2.2 percent.
On the other hand, energy costs increased slightly more (1.1 percent compared to 1 percent), mainly due to less cheap gasoline (2.2 percent compared to 2.5 percent).
In the seventh straight month of the year, the consumer price index in America rose 0.2 percent, as was the case with the core indicator, which was in line with expectations. In June, a 0.1 percent drop was recorded in the first case, and a 0.1 percent increase in the second. Housing rental prices grew by 0.4 percent during the month, which accounted for almost 90 percent of the total monthly increase in the consumer price index. Food prices have risen by half, while energy resources have not changed.
