STORY: U.S. CPI up 2.9 pct in July as inflation continues to cool
SHOOTING TIME: Earlier footage
DATELINE: Aug. 15, 2024
LENGTH: 00:01:24
LOCATION: Washington D.C.
CATEGORY: ECONOMY

SHOTLIST:
1. various of a gas station in Arlington, U.S. state of Virginia (Aug. 14, 2024)
2. various of street views of Arlington, U.S. state of Virginia (July 11, 2024)
3. various of a grocery store in Arlington, U.S. state of Virginia (July 11, 2024)

STORYLINE:

U.S. consumer inflation in July increased 2.9 percent from a year ago, after climbing 3.0 percent in June and 3.3 percent in May, the U.S. Labor Department reported Wednesday.
   
According to the report released by the Bureau of Labor Statistics, the Consumer Price Index (CPI) increased 0.2 percent on a seasonally adjusted basis in July after declining 0.1 percent in June. In May, the CPI remained unchanged.
   
The latest inflation report showed that the so-called core CPI, which excludes food and energy, increased 0.2 percent in July after rising 0.1 percent in June and 0.2 percent in May. The core CPI has risen 3.2 percent over the last 12 months, the smallest 12-month increase in that index since April 2021.
   
The index for shelter rose 0.4 percent in July, accounting for nearly 90 percent of the monthly increase in the all-items index. The energy index was unchanged over the month, after declining in the two preceding months. The index for food increased 0.2 percent in July, as it did in June.
   
Indexes that increased in July include shelter, motor vehicle insurance, household furnishings and operations, education, recreation, and personal care. The indexes for used cars and trucks, medical care, airline fares, and apparel were among those that decreased over the month.
   
After its two-day policy meeting on July 30-31, the U.S. Federal Reserve left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent, while hinting that a rate cut might come as soon as September.

Xinhua News Agency correspondents reporting from Washington D.C.
(XHTV)