Economic Notes for the Week of July 23rd


Headline CPI was unchanged in June, in line with expectations.  The food index rose 0.2% in June.  The energy index continued to fall by 1.4%, the third straight declining month following 1.7% and 4.3% drops in April and May respectively.  Fuel oil saw the steepest price reduction with a 7.9% drop from May.  Excluding food and energy, the core index increased 0.2% month-over-month and was up 2.2% year-over-year.  Overall, inflation risk is muted. Read more