US consumer prices rose 0.1% in July, after falling 0.4% in June, according to the Bureau of Labor Statistics. Inflation increased 3.4% over the past year, slightly below June’s 3.5% rate.
Core inflation, which excludes food and energy, rose 0.2% in July and 2.5% over the year. Shelter was the biggest contributor to the monthly increase, while energy prices fell 1.5%. Food prices rose 0.1% during the month.
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