ab 14 August 2024 Global Research and Evidence Lab US Economic Perspectives July CPI recap: Ongoing progress Headline CPI +0.15%: 12-month inflation edges down to 2.9% The headline CPI increased 15bp (seasonally-adjusted) in July with 12-month CPI inflation edging down from 3.0% in June to 2.9% in July — its lowest level since May 2021. Energy prices were essentially unchanged, and both food prices (+16bp) and core prices (+17bp) increased at moderate paces that would not be out of line with their pre-pande ...