U.S. CPI rose 0.1% in July 2026, annual inflation at 3.4%

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The all-items index is up 3.4% over the past year, a slight easing from the 3.5% annual rate recorded in June

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The Consumer Price Index for All Urban Consumers rose 0.1% on a seasonally adjusted basis in July, the Bureau of Labor Statistics reported Wednesday, rebounding from a 0.4% decline in June. Over the past 12 months, the all-items index rose 3.4%, down from 3.5% for the 12 months ending in June.

Shelter costs accounted for roughly two-thirds of the monthly increase, rising 0.1% in July. Food prices also increased 0.1% over the month, driven by a 0.3% rise in the index for food away from home. Energy prices fell 1.5% in July, following a 5.7% decline in June, as gasoline prices dropped 2.9%.