CPI release
CPI report: July 2024
Consumer prices rose 2.9% in the 12 months through July 2024, down from 3.0% in June. Core inflation, which excludes food and energy, ran 3.2%. The CPI-U index stood at 314.54, a 0.1% change from the prior month (not seasonally adjusted).
The numbers
| Headline inflation (12-month) | 2.9% |
|---|---|
| Core inflation (12-month) | 3.2% |
| CPI-U index level | 314.54 |
| Change vs. prior month (NSA) | 0.1% |
What moved: inflation by category
Over the twelve months ending July 2024, prices rose fastest in motor vehicle insurance (18.6%), owners' equivalent rent (5.3%), rent of primary residence (5.1%), while used cars and trucks prices fell (-10.9%).
| Category | 12-month rate | vs. prior month (NSA) |
|---|---|---|
| Motor vehicle insurance | 18.6% | 0.9% |
| Owners' equivalent rent | 5.3% | 0.4% |
| Rent of primary residence | 5.1% | 0.4% |
| Shelter | 5.1% | 0.3% |
| Electricity | 4.9% | 0.1% |
| Housing | 4.4% | 0.3% |
| Food away from home | 4.1% | 0.2% |
| Medical care | 3.2% | -0.2% |
| Core (all items less food & energy) | 3.2% | 0.1% |
| Prescription drugs | 2.5% | 0.1% |
| Food | 2.2% | 0.3% |
| College tuition and fees | 1.6% | 0.3% |
| Utility (piped) gas service | 1.5% | -0.4% |
| Recreation | 1.4% | 0.1% |
| Energy | 1.1% | 0.4% |
| Food at home | 1.1% | 0.3% |
| Transportation | 1.0% | -0.1% |
| Education & communication | 0.9% | 0.2% |
| Apparel | 0.2% | -1.6% |
| New vehicles | -1.0% | -0.1% |
| Gasoline (all types) | -2.2% | 0.8% |
| Airline fares | -2.8% | -7.1% |
| Used cars and trucks | -10.9% | -1.1% |
Recent months
| Month | CPI-U | 12-month rate |
|---|---|---|
| July 2024 | 314.54 | 2.9% |
| June 2024 | 314.175 | 3.0% |
| May 2024 | 314.069 | 3.3% |
| April 2024 | 313.548 | 3.4% |
| March 2024 | 312.332 | 3.5% |
| February 2024 | 310.326 | 3.2% |
Put it in context
- The current inflation rate, to check whether this is still the latest reading
- What 2023 dollars are worth in 2024, 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.