US Core Consumer Prices Rise as Expected

Core consumer prices in the United States, which exclude food and energy, rose by 0.2% from the previous month in July of 2026, gaining traction from the hold in the previous month, and in line with market expectations. Prices rose sharply for medical care devices (0.6% vs -0.1% in June), transportation services (0.3% vs -0.3%), and used cars and trucks (0.4% vs -0.2%). Meanwhile, inflation was softer for shelter (0.1% vs 0.1%). From the previous year, core consumer prices rose by 2.5%.

Core consumer prices in the United States, which exclude food and energy, were unchanged from the previous month in June of 2026, holding the 0.2% increase in May and undershooting market expectations that they would have risen by 0.2%. I)t was the first month without increases since January 2021. Prices fell for transportation services (-0.3% vs -0.6% in May), apparel (-0.6% vs 0.3%), and medical care services (-0.1% vs 0.5%). In turn, prices inched higher for shelter (0.1% vs 0.3%). From the previous year, core consumer prices were 2.6% higher.

Core consumer prices in the United States, which exclude food and energy, rose by 0.2% from the previous month in May 2026, following a 0.4% advance in April and slightly below market expectations of a 0.3% increase. Indexes that increased over the month include communication, airline fares, medical care, personal care, and recreation, while decreases were seen in motor vehicle insurance, household furnishings, and new vehicles. On a yearly basis, core inflation rose to 2.9% in May from 2.8% in the prior month, in line with the market consensus.