Headline consumer prices were up 2.0 percent year over year in July, down slightly from June's 2.1 percent. The core measure, which excludes food and energy, held steady at 1.9 percent year over year. The energy subindex dipped 4.0 percent (monthly annualized) in July, its first decline since March, after rising 21.0 percent in June, and the food subindex increased 4.4 percent following a 0.4 percent annualized increase in June. Within the core, the subindexes for shelter, medical care, new vehicles, personal care, and apparel all increased in July. Indexes for airline fares, recreation, used cars and trucks, household furnishings and operations, and tobacco all declined in July.
