Reflecting higher prices for shelter, food, energy, and new vehicles, the Labor Department released a report on Wednesday showing consumer prices in the U.S. increased in line with economist estimates in the month of July.
The Labor Department said its consumer price index climbed by 0.5 percent in July after jumping by 0.9 percent in June.
Economists had expected consumer prices to rise by 0.5 percent following the advance in the previous month, which reflected the biggest increase since June of 2008.
Excluding food and energy prices, core consumer prices rose by 0.3 percent in July after surging by 0.9 percent in June. Economists had expected core prices to increase by 0.4 percent.