Consumer Price Index July 2010

The Labor Department reported that the rising cost of energy products pushed consumer prices 0.3 percent higher in July following three straight months of modest declines, most recently a dip of 0.1 percent in June.

With all of the big year-over-year energy price increases now wrung out of the system, the annual rate of inflation now stands at 1.3 percent, up from 1.1 percent a month ago. Last month, energy prices rose 2.6 percent and are now 5.2 percent higher than a year ago.

The price at the pump rose 4.6 percent in July, more than offsetting the decline in June, and, for the third consecutive month, food prices were flat.

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