Latest Inflation Statistics: The Prices Rising And Falling Most


Highlights of the latest statistics on inflation

Current inflation rate

Prices in July rose 2.7% from a year ago, matching last month’s 2.7% annual rate, according to the Bureau of Labor Statistics consumer price index (CPI).

Current core inflation rate

Prices excluding food and energy edged up to 3.1% last month, the highest since February, according to the BLS.

The key drivers of inflation last month

Shelter costs were the primary driver of inflation in May, the BLS said. Medical care, airline fares, recreation, household furnishings and operations, as well as used vehicles also increased last month. Lodging, energy and grocery prices fell.

Whatis the current inflation rate?

Over the past 12 months, prices have risen 2.7 percent from a year ago, the BLS’ CPI report showed. Excluding food and energy, “core” prices rose 3.1 percent annually.

Inflation is well below where it peaked in the summer of 2022. Yet, the figures reflect bumpier progress on inflation’s path back to the Fed’s 2 percent target. Inflation was staying stubbornly above the Fed’s goalpost even before President Donald Trump lifted tariffs to the highest since the Great Depression.

Pricesthat are rising the most

Of the nearly 400 items that BLS tracks, roughly 3 out of every 4 items (or 76 percent) increased in price between July 2024 and July 2025. One in 4 (or 25 percent) were cheaper in July than they were a year ago.

Month-over-month price changes, however, can give consumers a more real-time look at the prices that have recently been popping. Lower prices in the same year-ago period, for example, can cause an item to look like it’s gaining speed, when it’s slowing in reality.

Case in point: Utility piped gas services prices were cheaper in July than they were in June, even though they’re still up 13.8 percent from a year ago.

Consumers, however, should take seasonal variations into account. Back-to-school or tax season, for instance, can often contribute to higher prices on items like tax return preparation services or college textbooks. BLS doesn’t seasonally adjust all of its items, and year-over-year inflation rates can better smooth out those variations.

 

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