Consumer Price Index: Inflation Decreased 0.1%
Consumers paid 1.7% more in July 2017 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI], and the level of inflation decreased 0.1 percentage point from the 1.8% measured in June 2017.
This is according to the latest Consumer Price Index, which said, “Between June 2017 and July 2017, the average cost of goods and services in the CPI increased by 0.6 percent. The all-items index rose to 103.9 in July. This means that the basket of goods and services that cost $100.00 in April 2015 now costs $103.90.
“The Transport & Foreign Travel sector was the largest contributor to the year-over-year increase in July. Increased prices of premium fuels caused this sector to rise 3.0%. In addition, the Fuel & Power sector and the Food sector rose 9.7% and 2.6%, respectively.”
The full July 2017 Consumer Price Index follows below [PDF here]:
Someone please translate this for the layperson – we get this report every few months like it is supposed to make us feel good that bread costs nearly 7 dollars a loaf and essentials are grossly overpriced!
this does not let you know what exactly has had a price increase – just a generalised category “Increased prices of premium fuels” doesn’t say anything to the layperson who can’t afford to live.