US Apparel Prices Rose The Biggest Gain In Ten Years

The US Department of labour published data on 14 days, showing a 0.8% rise in US consumer prices in July, two times more than analysts' expectations, mainly because of a significant increase in energy and food prices.

Consumer prices rose 5.6% in the same month, the biggest year-on-year increase since January 1991.

At the same time, this is also a sharp rise in consumer prices for the third month in a row. The gains in 5 and June were 0.6% and 1.1% respectively.

Data showed that energy prices continued to rise by 4% in July, after rising 6.6% in the previous month.

The main reason is that gasoline prices have risen by 4.1%.

Compared with the same period last year, the price of gasoline rose by 37.9%.

Food prices rose 0.9% in July, up 0.8% from the previous month.

A wide range of food prices were higher than the previous month.

Compared with the same period last year, energy prices rose 29.3% in July, and food prices rose by 6%.

If the two categories of energy and food products with high price volatility were deducted, the core consumer price rose by 0.3% in July, the same as that of the previous month, slightly higher than the 0.2% expected by analysts.

Clothing prices rose 1.2% in the month, the biggest increase since August 1998.

As the cost of fuel increased, the air fare increased by 1.3%.

Compared with the same period last year, core consumer prices rose by 2.5%, the biggest year-on-year increase since February.

Consumer price is an important indicator of inflation. Core inflation data are particularly closely watched by the Federal Reserve.