CPI release
CPI report: July 2023
Consumer prices rose 3.2% in the 12 months through July 2023, up from 3.0% in June. Core inflation, which excludes food and energy, ran 4.7%. The CPI-U index stood at 305.691, a 0.2% change from the prior month (not seasonally adjusted).
The numbers
| Headline inflation (12-month) | 3.2% |
|---|---|
| Core inflation (12-month) | 4.7% |
| CPI-U index level | 305.691 |
| Change vs. prior month (NSA) | 0.2% |
What moved: inflation by category
Over the twelve months ending July 2023, prices rose fastest in motor vehicle insurance (17.8%), rent of primary residence (8.0%), shelter (7.7%), while gasoline (all types) prices fell (-19.9%).
| Category | 12-month rate | vs. prior month (NSA) |
|---|---|---|
| Motor vehicle insurance | 17.8% | 1.7% |
| Rent of primary residence | 8.0% | 0.4% |
| Shelter | 7.7% | 0.4% |
| Owners' equivalent rent | 7.7% | 0.5% |
| Food away from home | 7.1% | 0.2% |
| Housing | 6.2% | 0.3% |
| Food | 4.9% | 0.3% |
| Core (all items less food & energy) | 4.7% | 0.2% |
| Recreation | 4.1% | 0.1% |
| Food at home | 3.6% | 0.4% |
| New vehicles | 3.5% | 0.1% |
| Apparel | 3.2% | -1.0% |
| Electricity | 3.0% | -0.4% |
| Prescription drugs | 2.8% | 0.0% |
| College tuition and fees | 2.0% | 0.2% |
| Education & communication | 1.2% | 0.0% |
| Medical care | -0.5% | -0.1% |
| Transportation | -3.0% | 0.2% |
| Used cars and trucks | -5.6% | -0.2% |
| Energy | -12.5% | 0.3% |
| Utility (piped) gas service | -13.7% | 1.8% |
| Airline fares | -18.6% | -9.3% |
| Gasoline (all types) | -19.9% | 0.6% |
Recent months
| Month | CPI-U | 12-month rate |
|---|---|---|
| July 2023 | 305.691 | 3.2% |
| June 2023 | 305.109 | 3.0% |
| May 2023 | 304.127 | 4.0% |
| April 2023 | 303.363 | 4.9% |
| March 2023 | 301.836 | 5.0% |
| February 2023 | 300.84 | 6.0% |
Put it in context
- The current inflation rate, to check whether this is still the latest reading
- What 2022 dollars are worth in 2023, the year-over-year conversion
- How the BLS turns 80,000 prices into this number
- How to read a CPI report, headline vs. core and what moves after release day
Source: U.S. Bureau of Labor Statistics, CPI-U, not seasonally adjusted (official CPI news releases). Category series are listed on the data sources page. See the methodology.