U.S. CPI for July increases by 2.9%, missing market forecast

The U.S. Bureau of Labor Statistics reported that the U.S. Consumer Price Index (CPI) in July increased by 2.9% year-over-year, falling short of the market forecast of a 3.0% rise, according to Investing.com. The core CPI, which excludes food and energy prices, went up by 0.2% compared to the previous month, meeting expectations.