The Consumer Price Index (CPI) reading by the Bureau of Labor Statistics today (11 July) marks a drop from the 3.3% recorded in May, while core inflation, which strips out volatile food and energy prices, was down from 3.4% the month prior to 3.3%.
Among the biggest contributors to the decrease were gasoline, which fell by 3.8%, and energy, which was down 2%. Meanwhile, shelter, motor vehicle insurance, medical care and personal care, and house furnishings and operations were all up over the month.
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