One-Month Inflation Vacation Is Over
August 18, 2011 by UPI - United Press International, Inc.
WASHINGTON, Aug. 18 (UPI) – The Consumer Price Index rose a seasonally adjusted 0.5 percent in July while the core rate rose 0.2 percent, the U.S. Labor Department said Thursday.
The index has risen 3.6 percent in the last 12 months before the seasonal adjustment, the department’s Bureau of Labor Statistics said in a release. That is consistent with June’s annual rate.
The CPI core excludes food and energy. And, while core prices inflation fell from a monthly increase of 0.3 percent in June to 0.2 percent in July, for all items, including food and energy items, prices declined 0.2 percent in June, but rose 0.5 percent in July.
Food and energy both contributed to the shift. Food prices were up 0.2 percent in June over May. They rose 0.4 percent in July over June.
Energy prices in July rose 2.8 percent compared with a 4.4 percent drop in June.
The gasoline index rose 4.7 percent after falling 6.8 percent in June, the bureau said.
The index for shelter rose slightly in July, up 0.2 percent, while prices paid for medical care rose 0.3 percent.
First-time jobless claims rise by 9,000Thursday, August 18, 2011 8:52 AMWASHINGTON, Aug. 18 (UPI) – First-time jobless benefit claims rose by 9,000 in the week ending Saturday with 408,000 claims filed, the U.S. Labor Department said.
The four-week rolling average for claims filed was 402,500, a drop of 3,500 from the previous revised average, the department said Thursday.
The Labor Department issues its monthly report on the employment situation on the first Friday of each month. In July, the unemployment rate was 9.1 percent, down from 9.2 percent in June.
In the week ending Aug. 6, California had the largest increase in first-time claims with 7,848. Florida had the largest decrease in claims for the week with 2,580 fewer claims filed.