Prices for new vehicles fell 0.2%, the first decline since February.
Energy prices rose 1.3% from the prior month as gasoline prices increased 2.5%. A national gauge of retail gasoline prices was up on average during the month though it has declined since mid-July. Food costs were unchanged for a second month.
Get More
- A separate Labor Department report Tuesday showed average hourly earnings, adjusted for price changes, rose 1.3% in July from a year earlier, following 1.5% in June. Higher inflation tends to eat into wage gains.
- Economists surveyed by Bloomberg had forecast the core gauge would rise 0.2% from the prior month and 2.1% from a year earlier, with the broader index rising 0.3% on the month and accelerating to 1.7% on a yearly basis.
This story provided by Bloomberg News.