The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis in July, after rising 0.3 percent in June, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the…
Source: U.S. Bureau of Labor Statistics6 min read
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The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis in July, after rising 0.3 percent in June, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.7 percent before seasonal adjustment.
The index for shelter rose 0.2 percent in July and was the primary factor in the all items monthly increase. The food index was unchanged over the month as the food away from home index rose 0.3 percent while the food at home index fell 0.1 percent. In contrast, the index for energy fell 1.1 percent in July as the index for gasoline decreased 2.2 percent over the month.
The index for all items less food and energy rose 0.3 percent in July, following a 0.2-percent increase in June. Indexes that increased over the month include medical care, airline fares, recreation, household furnishings and operations, and used cars and trucks. The indexes for lodging away from home and communication were among the few major indexes that decreased in July.
The all items index rose 2.7 percent for the 12 months ending July, after rising 2.7 percent over the 12 months ending June. The all items less food and energy index rose 3.1 percent over the last 12 months. The energy index decreased 1.6 percent for the 12 months ending July. The food index increased 2.9 percent over the last year.
Changes to wireless telephone services source data and methodology
With this release, BLS has replaced survey data collected for the CPI's wireless telephone services index with secondary source data and non-traditional index methods.
Additional information is available on the CPI website, www.bls.gov/cpi/additional-resources/alternative-data-wireless-telephone.htm, and in a new factsheet "Measuring Price Change in the CPI: Wireless Telephone Services," www.bls.gov/cpi/factsheets/wireless-telephone-service.htm.
Food
The index for food was unchanged in July, after increasing 0.3 percent in the previous 2 months. The food at home index fell 0.1 percent over the month. Two of the six major grocery store food group indexes increased in July, while three decreased and one was unchanged. The index for dairy and related products rose 0.7 percent over the month as the index for milk increased 1.9 percent. The meats, poultry, fish, and eggs index increased 0.2 percent in July, with mixed subcomponents including a 1.5-percent increase in the beef index and a 3.9-percent decrease in the eggs index.
The index for other food at home declined 0.5 percent in July, after rising 0.2 percent in June. The nonalcoholic beverages index also declined 0.5 percent over the month, as the juices and nonalcoholic drinks index fell 1.3 percent. The index for cereals and bakery products fell 0.2 percent in July. The fruits and vegetables index was unchanged over the month.
The food away from home index rose 0.3 percent in July. The index for full service meals rose 0.5 percent over the month and the index for limited service meals increased 0.1 percent.
The index for food at home rose 2.2 percent over the 12 months ending in July. The meats, poultry, fish, and eggs index rose 5.2 percent over the last 12 months as the eggs index increased 16.4 percent. The index for nonalcoholic beverages increased 3.6 percent over the same period and the index for other food at home rose 1.2 percent. The cereals and bakery products index increased 1.0 percent over the 12 months ending in July. The index for dairy and related products rose 1.5 percent and the index for fruits and vegetables increased 0.2 percent over the same period.
The food away from home index rose 3.9 percent over the last year. The index for full service meals rose 4.4 percent and the index for limited service meals rose 3.3 percent over the same period.
Energy
The index for energy decreased 1.1 percent in July, after rising 0.9 percent in June. The gasoline index decreased 2.2 percent over the month. (Before seasonal adjustment, gasoline prices decreased 0.5 percent in July.) The index for electricity decreased 0.1 percent over the month and the index for natural gas decreased 0.9 percent over the same period.
The index for energy decreased 1.6 percent over the past 12 months. The gasoline index fell 9.5 percent over this 12-month span and the fuel oil index fell 2.9 percent over the same period. In contrast, the index for electricity increased 5.5 percent over the last 12 months and the index for natural gas rose 13.8 percent.
All items less food and energy
The index for all items less food and energy rose 0.3 percent in July, following a 0.2-percent increase in June. The shelter index increased 0.2 percent over the month. The index for owners' equivalent rent rose 0.3 percent in July as did the index for rent. Conversely, the lodging away from home index fell 1.0 percent in July.
The medical care index increased 0.7 percent over the month, following a 0.5-percent increase in June. The index for dental services increased 2.6 percent in July and the index for hospital and related services increased 0.4 percent. The physicians' services index rose 0.2 percent over the month, while the prescription drugs index fell 0.2 percent.
The index for airline fares increased 4.0 percent over the month, after declining 0.1 percent in June. The recreation index increased 0.4 percent over the month, as did the household furnishings and operations index. The index for used cars and trucks rose 0.5 percent in July and the index for personal care rose 0.4 percent. The new vehicles index was unchanged over the month while the communication index fell 0.3 percent.
The index for all items less food and energy rose 3.1 percent over the past 12 months. The shelter index increased 3.7 percent over the last year. Other indexes with notable increases over the last year include medical care (+3.5 percent), household furnishings and operations (+3.4 percent), motor vehicle insurance (+5.3 percent), and recreation (+2.4 percent).
Not seasonally adjusted CPI measures
The Consumer Price Index for All Urban Consumers (CPI-U) increased 2.7 percent over the last 12 months to an index level of 323.048 (1982-84=100). For the month, the index increased 0.2 percent prior to seasonal adjustment.
The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.5 percent over the last 12 months to an index level of 316.349 (1982-84=100). For the month, the index increased 0.1 percent prior to seasonal adjustment.
The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 2.5 percent over the last 12 months. For the month, the index increased 0.1 percent on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision.
Changes to the health insurance index
With the release of October 2025 data on November 13, 2025, the Bureau of Labor Statistics (BLS) will remove long-term care (LTC) insurance from the health insurance index. Changes in the market for LTC insurance have made it out of scope and ineligible for pricing in the CPI market basket.
Archived Nov 11, 2026. Source reuse policy. Formatting has been adapted for reading; the source’s conclusions remain attributed to its publisher.
MortgageRates.news analysis · Historical context
The mortgage market around this release
This original analysis is separate from the source article. It compares observed benchmarks around ; historical averages and yields are not current mortgage offers.
Read consumer inflation on a consistent basis
The Consumer Price Index measures changes in prices paid by urban consumers for a basket of goods and services. Check the index, reference month and seasonal adjustment before comparing figures. A monthly change and a twelve-month change describe different periods; the all-items index and the measure excluding food and energy cover different baskets. Consumer inflation informs the wider policy discussion, but the benchmark comparison below does not isolate this release from other information arriving during the month. BLS Consumer Price Index.
Nearest published observation on or before each target date
Calendar references, not an intraday reaction. A same-day market observation may have been published after a morning release. These figures do not show what was known at its exact publication time. One basis point (bp) is 0.01 percentage point; changes use the actual dated observations shown.
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What that benchmark difference would mean for a $300,000 loan
At the publication reference$1,921.92/month
6.63% · Aug 7, 2025
At the later reference$1,866.71/month
6.35% · Sep 11, 2025
The illustrative principal-and-interest payment is $55.22 lower per month. This holds the loan amount and term constant to show the arithmetic effect of the benchmark difference.
Assumptions: two separate hypothetical $300,000 loans, each fully amortizing over 30 years with 360 monthly payments and its stated fixed interest rate. Excludes points, lender fees, taxes, insurance, association charges and other costs. PMMS is a national average, not an APR or a personalized rate offer. These are not two payments on one existing loan.
Sources, historical coverage and calculation limits
Freddie Mac Primary Mortgage Market Survey®: available observations from Apr 2, 1971 through Nov 5, 2026. Cached history snapshot. History retrieved or verified Nov 11, 2026.
U.S. Department of the Treasury: available observations from Jan 4, 2016 through Nov 10, 2026. Cached history snapshot. History retrieved or verified Nov 11, 2026.
The 30-day comparisons use calendar days. Each cell selects the last published observation on or before its target; no rates are synthesized for missing dates. Gaps greater than seven days for daily Treasury data or fourteen days for weekly mortgage data are marked unavailable. Forward comparisons require the date to have arrived and source coverage to extend through it.
Historical files may contain revisions and do not reconstruct precisely what every market participant knew at the time. Freddie Mac changed its PMMS collection methodology in November 2022. Cross-period comparisons should account for that change. These windows include other news and cannot establish causation or forecast the next rate move.