Consumer Price Index (CPI) for JULY 2026

The Labor Department's Bureau of Labor Statistics released its Consumer Price Index (CPI) for July, 2026:

=========================================

CPI During July, 2026: 333.918

=========================================

Consumer Price Index (CPI); Headline

Predicted: FLAT

->  Actual: -0.01% ( -0.034 point)

• Year-on-Year Change: +3.36% (+10.87 points)

[Y-o-Y previous = +3.53%]

=========================================

CPI, Minus Food + Energy (Core CPI)

Predicted: +0.1%

 - > Actual: +0.07% (+0.251 point)

• Year-on-Year Change: +2.48% (+8.153 points)

[Y-o-Y previous = +2.59%]

=========================================

The above, yellow- and blue-highlighted figures represent month-to-month and year-on-year changes (not seasonally adjusted) in prices for a specific group of goods and services that consumers buy, and is, therefore, a very important part of the overall inflation picture for the country.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

General categories that constitute the CPI are:

• Healthcare
• Housing
• Clothing
• Communications
• Education
• Transportation
• Food and Beverages
• Recreation
• Miscellaneous Goods and Services (grooming expenses, etc.)

========================================

CPI During July, 2025: 323.048

=======================================

CHART: Consumer Price Index

12-Month Percentage Change
JULY 2026 Update

========================================

• Click here to view the full Labor Department report.
  

========================================

--> www.FedPrimeRate.com Privacy Policy <-- CLICK HERE to JUMP to the TOP of THIS PAGE >  SITEMAP  <

Job Openings and Labor Turnover Survey (JOLTS) for JUNE 2026

Job Openings and Labor Turnover Survey (JOLTS*) for June, 2026 was released by the Labor Department this morning:

=============

Job Openings

Predicted: 7,400,000

• Actual:   7,359,000

-------------------------

• Previous Month (revised): 7,537,000
  
  
• Change from Previous Month: -2.36% (-178,000)
   
  
• One-Year Previous: 7,204,000
  
  
• Change from One-Year Previous: +2.15% (+155,000)
  

=============

HIRES: 5,348,000

HIRES vs. 12-Months Previous: +0.39% (+21,000)

-----------

QUITS: 3,232,000

QUITS vs. 12-Months Previous: -0.68% (-22,000)

-----------

LAYOFFS + DISCHARGES: 1,766,000 

LAYOFFS + DISCHARGES vs. 12-Months Previous: -4.18% (-77,000)

-----------

TOTAL SEPARATIONS ^§: 5,351,000

TOTAL SEPARATIONS vs. 12-Months Previous: -1.49% (-81,000)

=============

 

§ = Here's How The Labor Department Defines Total Separations:

"Total separations includes quits, layoffs and discharges, and other separations. Total separations is referred to as turnover. Quits are generally voluntary separations initiated by the employee. Therefore, the quits rate can serve as a measure of workers’ willingness or ability to leave jobs. Layoffs and discharges are involuntary separations initiated by the employer. Other separations includes separations due to retirement, death, disability, and transfers to other locations of the same firm."

=============

CHART: Number of Jobless People

per Job Opening, Seasonally Adjusted
JUNE 2011 thru JUNE 2026

=============
=============

• * = The JOLTS data series began back in December of 2000. 
  
  
• Click here to view the full Labor Department JOLTS report.
  

=============

--> www.FedPrimeRate.com Privacy Policy <-- CLICK HERE to JUMP to the TOP of THIS PAGE >  SITEMAP  <

ISM Manufacturing Index for JULY 2026

The Institute for Supply Management® (ISM®) released their Manufacturing Purchasing Manager's Index (PMI®) for July 2026:

=========

• Actual: 55.6% (+2.3 points month-on-month)

=========

Previous month: 53.3%

=========

Every month, the ISM surveys purchasing and supply executives at hundreds of companies across the country who are involved in manufacturing in some form. The resulting index is watched closely by academics, economists and investors because manufacturing accounts for about 12% of U.S. Gross Domestic Product (GDP).

The PMI is a reliable barometer of U.S. manufacturing: A PMI above 50% implies that U.S. manufacturing expanded during the month specified, while a reading below 50% implies that the made-in-the-USA sector contracted.

=========

From Today's Report:

"...Economic activity in the manufacturing sector expanded in July for the seventh consecutive month, say the nation’s supply executives in the latest ISM® Manufacturing PMI® Report..."

=========

The Following Is A Sampling Of Quotes
From A Diverse Pool Of U.S. Manufacturers:

• “We are seeing a very opportunistic and reactive marketplace. If shortage items become available, we opportunistically buy. Some customers are reducing inventory; others are pulling forward demand. As many customers that are slowing down, an equal number are growing. It looks like a lot of shuffling and shifting market share.”
   [Chemical Products] 

• “We continue to operate in a favorable demand environment driven by growth in the semiconductor, AI, advanced packaging, and high-performance computing markets. Recent company reports indicate strong sales growth and continued investment in manufacturing capacity, technology and customer-support capabilities. This scenario supports a positive business outlook and creates opportunities to leverage increased purchasing scale across the enterprise.”
   [Computer & Electronic Products] 

• “Now that it seems the buildout of AI infrastructure globally is nearing real activation, products going into data centers are at full procurement and manufacturing ramp-up. Thus, demand for our semiconductor end products and connectivity (power, networking and photonics) is booming. Similarly, defense is at an all-time high, with most of our product orders going to these two industries. Order volumes for medical, industrial and consumer products are markedly lower.”
   [Machinery]

• “Aerospace and defense demand continues to be strong and growing, based on business backlogs. Competing for scare supply -- electronics, certain critical minerals and other categories — is challenging on-time fulfillment for our supply chains. This is expected to get worse with co-dependent sectors also remaining strong and restocking challenges for automotive electronics.”
   [Transportation Equipment] 

• “Continued tariffs on products utilized in our product lines are being monitored by the business, which is working to mitigate or limit tariff risk. Geopolitical risk, especially in the Middle East, pertaining to commodity and energy markets remains a concern. There has been some increased cost and transit time for rerouted shipments due to conflicts in the Red Sea, Strait of Hormuz and Suez Canal.”
   [Transportation Equipment] 

• “Business is still solid; we will increase revenue by 3 percent to 5 percent. We are considering foreign steel purchases for early next year because domestic steel mills are getting greedy.”
   [Fabricated Metal Products] 

• “No normalcy in sight in the world of metals. It makes me yearn for the coronavirus pandemic chaos, which was more manageable than whatever this is that we are in.  At least business is better; however, the components of good business are not. Sharp pricing downturns in aluminum will make things more interesting, as supply levels will prevent those decreases from taking hold across the board. Getting customers to understand that is not always easy.”
   [Primary Metals] 

• “The pricing volatility and lead-time extensions in this market are arguably worse than the pandemic era. During COVID-19, we saw a surge of price hikes and inventory buy-ups, which caused constraints that eventually leveled out. We are seeing nothing but consistent upward trends for both pricing and lead times that show no signs of slowing down. Specifically, 5-percent to 25-percent price increases for printed circuit board assembly components and 15-percent to 45-percent increases for bare boards are negatively impacting customer demand outlook into next year. This isn’t sustainable.”
   [Electrical Equipment, Appliances & Components] 

• “Our customers in Asia continue to procure elsewhere to avoid paying a tariff While the Iran [invasion] was paused, it was terrific to see fuel prices (and delivery costs) falling steadily. Now that skirmishes have resumed, we expect fuel to rise again.”
   [Paper Products] 

• “Definitely a downturn within several of our business units, mainly the consumer products division. High freight costs, both for truck and ocean, and longer lead times are concerning. Pricing was moving downward until the Iran [invasion] started again.”
   [Chemical Products]
  

==========

CHART: ISM Manufacturing Index

JULY 2026 Update

=========

DATA: ISM Manufacturing Index

12-Month History
JULY 2026 Update

=========

=========

• Click here to view the complete ISM report

=========

 

--> www.FedPrimeRate.com Privacy Policy <-- CLICK HERE to JUMP to the TOP of THIS PAGE >  SITEMAP  <

Gross Domestic Product (GDP): FIRST / ADVANCE Estimate for Q2, 2026

The Commerce Department's Bureau of Economic Analysis (BEA) released its FIRST estimate for U.S. Real Gross Domestic Product (GDP) for the second quarter of 2026:

============

Previous quarter: +2.1%

• Actual: +1.5%

============

GDP is a very broad measure of economic activity for the entire United States, covering all sectors of the economy. The Commerce Department defines real GDP as, "the output of goods and services produced by labor and property located in the United States."

============ 

CHART: GDP - Percent Change from Previous Quarter

Q2, 2026 - FIRST ESTIMATE

============ 

 

• Click here to view the full Commerce Department report (PDF).
  

============

--> www.FedPrimeRate.com Privacy Policy <-- CLICK HERE to JUMP to the TOP of THIS PAGE >  SITEMAP  <

New Unemployment Insurance Claims for The Week of July 25, 2026

Jobless Claims

Earlier today, the Labor Department released its weekly report on New Jobless Insurance Claims for the week that ended on July 25, 2026:

====================
Predicted: 199,000

• Actual: 197,000

====================

The yellow-highlighted figure represents the number of first-time claims for unemployment benefits for the entire United States. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

 --> Previous Week (revised): 188,000

• 4-Week Moving Average: 202,750

====================

• Click here to view the full Labor Department report

====================

--> www.FedPrimeRate.com Privacy Policy <-- CLICK HERE to JUMP to the TOP of THIS PAGE >  SITEMAP  <

PCE Price Index + Personal Income + Consumer Spending Report for JUNE 2026

The Commerce Department's Bureau of Economic Analysis (BEA) released its report on The PCE Price Index, Consumer Spending and Personal Income for June, 2026:

=============

Consumer Spending (Personal Consumption Expenditures [PCE])

Previous Reading (revised): +0.9%

• Actual: +0.3%
  
  
• > Real PCE: +0.4%*

=============

Personal Income

Previous Reading (unrevised): +0.7%

• Actual: +0.2%
  
  
• > Disposable Personal Income (DPI): +0.2% 
  
  
• >> Real DPI: +0.3%* 

=============

The above highlighted percentages represent the month-to-month change in Consumer Spending (aka Personal Consumption Expenditures), Personal Income and Disposable Personal Income for the entire United States.

 

PCE Price Index
Previous Reading (revised): +0.5%

• Actual: -0.1% 

• Change from 12-months previous: +3.7%
  (prior - unrevised = +4.1%)

=====================

Core PCE Price Index
( = PCE Price Index minus food and energy)
Previous Reading (unrevised): +0.3%

• Actual: +0.1%

• Change from 12-months previous: +3.3%
  (prior - unrevised = +3.4%)

=====================

The PCE Price Index is different from the Consumer Price Index (CPI) in that it is a very broad measure of the prices associated with domestic products and services, while the CPI measures a more limited fixed basket of goods and services.

The broad nature of the PCE Price Index is key to why it is the Federal Reserve's preferred measure of inflation.  The Federal Open Market Committee (FOMC) pays very close attention to it.

=====================

 

CHART: Changes In Monthly Consumer Spending

JUNE 2026 UPDATE

=====================

 Click here to view the full
Commerce Department report (PDF). 

=====================

* =  Chained dollars is a method of adjusting real dollar amounts for inflation over time, so as to allow comparison of figures from different years. The Commerce Department introduced the chained-dollar measure in 1996. Chained dollars generally reflect dollar figures computed with 2012 as the base year.

--> www.FedPrimeRate.com Privacy Policy <-- CLICK HERE to JUMP to the TOP of THIS PAGE >  SITEMAP  <

Crude Oil Inventories Report for Week Ending July 24, 2026

Crude Oil Inventories

The U.S. Crude Oil Inventories report for the week that ended on July 24, 2026 was released this morning:

- Δ from Last Week: -10,900,000 Barrels (-1.51%)

- Δ from 1-Year Previous: -117,200,000 Barrels (-14.13%)

- Current U.S. Crude Oil Stocks: 712,200,000 Barrels

• NB: Δ = Change

Diminishing crude oil inventories often translate to higher crude oil and fuel prices (and vice versa), but not always.

The report is produced by the U.S. Energy Information Administration (EIA).

• Click Here for the Weekly Crude Oil Price
  
  

• Click Here for A Crude Oil Price Chart
  
  
• Click Here for the FULL (Extended) Weekly Petroleum Status Report
  
  
• Click Here for the Weekly Petroleum Status Report DATA OVERVIEW
  
  
• Click Here for the Weekly Petroleum Status Report HIGHLIGHTS  

--> www.FedPrimeRate.com Privacy Policy <-- CLICK HERE to JUMP to the TOP of THIS PAGE >  SITEMAP  <

Durable Goods Orders During JUNE 2026

The Durable Goods Orders report for June, 2026 was released by the Commerce Department:

================

• New Orders: $360,373,000,000
  
  (+$29,511,000,000 [+8.92%]) Year-on-Year

================

CHART: Durable Goods Orders

Month-on-Month Change
JUNE 2026 UPDATE
(from Seasonally Adjusted Data)

================

The yellow-highlighted figure represents the y-o-y change in new orders for durable or hard goods for immediate or future delivery from U.S. manufacturers (NOT seasonally adjusted.)

Examples of durable goods: cars, airplanes, computers, furniture -- items that are built to last at least three years.

================

• Click here to view the full Commerce Department report (PDF).
  

================

--> www.FedPrimeRate.com Privacy Policy <-- CLICK HERE to JUMP to the TOP of THIS PAGE >  SITEMAP  <

Chicago Fed National Activity Index (CFNAI) for JUNE 2026

The Federal Reserve Bank of Chicago released its National Activity Index (CFNAI) for June, 2026:

==================

• Actual (CFNAI): -0.02

==================

• Previous Month (revised): N/A

• 3-Month Moving Average (CFNAI-MA3): -0.05

==================

The CFNAI is a weighted average of 85 indicators of growth in national economic activity drawn from four broad categories of data:

• Production and income;
• Employment, unemployment, and hours;
• Personal consumption and housing; and
• Sales, orders, and inventories.

The "predicted" figure is what economists were expecting, while the yellow-highlighted figure is what was reported.

================== 

CHART: CFNAI-MA3 with Business Cycles

JUNE 2026 Update

===================

Understanding The CFNAI:

A zero value for the monthly index has been associated with the national economy expanding at its historical trend (average) rate of growth; negative values with below-average growth (in standard deviation units); and positive values with above-average growth.

Periods of economic expansion have historically been associated with values of the CFNAI-MA3 above -0.70 and the CFNAI Diffusion Index above -0.35. Conversely, periods of economic contraction have historically been associated with values of the CFNAI-MA3 below -0.70 and the CFNAI Diffusion Index below -0.35.

An increasing likelihood of a period of sustained increasing inflation has historically been associated with values of the CFNAI-MA3 above +0.70 more than two years into an economic expansion. Similarly, a substantial likelihood of a period of sustained increasing inflation has historically been associated with values of the CFNAI-MA3 above +1.00 more than two years into an economic expansion.

==================

• Click here to view the full Chicago Fed report

• Click here for The List of 85 Existing Monthly Indicators
  

==================

--> www.FedPrimeRate.com Privacy Policy <-- CLICK HERE to JUMP to the TOP of THIS PAGE >  SITEMAP  <

New Unemployment Insurance Claims for The Week of July 18, 2026

Jobless Claims

Earlier today, the Labor Department released its weekly report on New Jobless Insurance Claims for the week that ended on July 18, 2026:

====================
Predicted: 215,000

• Actual: 187,000

====================

The yellow-highlighted figure represents the number of first-time claims for unemployment benefits for the entire United States. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

 --> Previous Week (revised): 209,000

• 4-Week Moving Average: 207,500

====================

• Click here to view the full Labor Department report

====================

--> www.FedPrimeRate.com Privacy Policy <-- CLICK HERE to JUMP to the TOP of THIS PAGE >  SITEMAP  <

Crude Oil Inventories Report for Week Ending July 17, 2026

Crude Oil Inventories

The U.S. Crude Oil Inventories report for the week that ended on July 17, 2026 was released this morning:

-- Δ from Last Week: -3,100,000 Barrels (-0.43%)

-- Δ from 1-Year Previous: -98,400,000 Barrels (-11.98%)

-- Current U.S. Crude Oil Stocks: 723,100,000 Barrels

• NB: Δ = Change

Diminishing crude oil inventories often translate to higher crude oil and fuel prices (and vice versa), but not always.

The report is produced by the U.S. Energy Information Administration (EIA).

• Click Here for the Weekly Crude Oil Price
  
  

• Click Here for A Crude Oil Price Chart
  
  
• Click Here for the FULL (Extended) Weekly Petroleum Status Report
  
  
• Click Here for the Weekly Petroleum Status Report DATA OVERVIEW
  
  
• Click Here for the Weekly Petroleum Status Report HIGHLIGHTS  
  
  

--> www.FedPrimeRate.com Privacy Policy <-- CLICK HERE to JUMP to the TOP of THIS PAGE >  SITEMAP  <

Housing Starts During JUNE 2026

The U.S. Commerce Department this morning released its Housing Starts report for June, 2026:

---------------------------------------------------

Housing Starts:
Previous Reading (revised): 1,199,000

• Actual: 1,427,000

Month-on-Month Change: +19.02% (+228,000 New Units)

• Year-on-Year Change: +3.48% (+48,000 New Units)

---------------------------------------------------

Building Permits:
Previous Reading (revised): 1,410,000

• Actual: 1,367,000

Month-on-Month Change: -3.05% (-43,000 New Permits)

• Year-on-Year Change: -2.29%  (-32,000 New Permits)

----------------------------------------------------

Housing Starts: The top, yellow-highlighted figure is a measure of initial construction of single and multi-family residential units in the United States for the indicated month. Seasonally adjusted annual rate. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

If you're wondering about the demand for new homes in the United States, or about the American residential construction industry in general, then you should pay attention to the monthly Housing Starts report. This report also offers insight into specific types of consumer spending: when housing starts are up, demand for the stuff that a consumer would purchase for a new home (large appliances, consumer electronics, furniture, etc.) tends to also rise -- and vice versa.

=================

CHART: Housing Starts

+ Building Permits
+ Completions
JUNE, 2026 UPDATE

=================

• Click here to view the full Commerce Department report (PDF)

================= 

--> www.FedPrimeRate.com Privacy Policy <-- CLICK HERE to JUMP to the TOP of THIS PAGE >  SITEMAP  <

Gross Domestic Product (GDP): THIRD / FINAL Estimate for Q1, 2026

The Commerce Department's Bureau of Economic Analysis (BEA) released its THIRD / FINAL estimate for U.S. Real Gross Domestic Product (GDP) for the first quarter of 2026:

============

Previous quarter: +0.5%

• Actual: +2.1%

============

The GDP is a very broad measure of economic activity for the entire United States, covering all sectors of the economy. The Commerce Department defines real GDP as, "the output of goods and services produced by labor and property located in the United States."

============ 

CHART: Contributions to Percent Change in Real GDP

Q1, 2026 - THIRD / FINAL ESTIMATE

============ 

 

• Click here to view the full Commerce Department report (PDF).
  

============

--> www.FedPrimeRate.com Privacy Policy <-- CLICK HERE to JUMP to the TOP of THIS PAGE >  SITEMAP  <

Leading Economic Index for JUNE 2026

The Conference Board® released its Leading Economic Index® (LEI) for June, 2026:

==============

Index for June, 2026: 99.1 (The baseline 100 score is associated with 2016 data.)

==============

• Actual: -0.2% (-0.2 point Month-on-Month)
  
  
• Change from 12 Months Ago: +0.3% (+0.3 point)

============== 

• LEI for May, 2026: 99.3
   
• LEI for April, 2026: 99.2
  
  
• LEI for March, 2026: 99.0
  
  
• LEI for February, 2026: 99.6
  
  
• LEI for January, 2026: 99.3
      
• LEI for December, 2025: 99.4   
  
  
• LEI for November, 2025: 99.6  
  
  
• LEI for October, 2025: 98.1
   
• LEI for September, 2025: 98.3 
   
• LEI for August, 2025: 98.5 
  
  
• LEI for July, 2025: 98.8
  
  
• LEI for June, 2025: 98.8
  
  

==============

The LEI is a composite of 10 of the nation's economic data releases that's put together by The Conference Board.

Statistically, the components listed below have shown a significant increase or decrease before national economic upturns or downturns:

1. The Standard + Poor's 500 Index
   
   
2. Average weekly claims for unemployment insurance
   
   
3. Building permits for new private housing
   
   
4. The interest rate spread between the yield on the benchmark 10-Year Treasury Note and Federal Funds
   
   
5. ISM® Index of New Orders
   
   
6. Manufacturer's new orders for consumer goods or materials
   
   
7. Manufacturer's new orders, non-defense capital goods excluding aircraft orders
   
   
8. Average weekly manufacturing hours
   
   
9. Average consumer expectations for business conditions
   
   
10. Leading Credit Index™

==============

CHART: Leading Economic Index
6-Month Growth Rate
with Warning + Recession Signal
JUNE 2026 UPDATE

==============

 

From Today's Report:

"...While some components of the LEI were little changed, the largest positive contribution from the yield spread, followed by marginal positive input from the remaining financial components, were not enough to offset weak consumer expectations and a drop in building permits across most of its categories...

...'Consumer spending is weakening, but strong business investment related to AI is expected to support economic activity while inflation continues to improve. The Conference Board raised its forecast from 1.8% to 1.9% year-on-year GDP growth for 2026.'..."

==============
 

• Click Here to view the Conference Board report.
  

==============

--> www.FedPrimeRate.com Privacy Policy <-- CLICK HERE to JUMP to the TOP of THIS PAGE >  SITEMAP  <

Industrial Production + Manufacturing + Capacity Utilization During June 2026

The Industrial Production, Manufacturing and Capacity Utilization numbers for June, 2026 were released by the Federal Reserve:

Industrial Production:
Previous Month (revised): +0.1%
Actual: +0.1% Month-on-Month (M/M)

• Year-on-Year (Y/Y): +1.1%
  
  --> Y/Y Previous: +1.7%
  
  

Manufacturing:
Previous Month (revised): +0.1%
Actual:  FLAT (M/M)

• Y/Y : +1.1%
  
  --> Y/Y Previous: +1.4%
  
  

Capacity Utilization Rate:
Previous Month (unrevised): 76.1%
Actual:  76.1% 

• Y/Y : +1.3%
  
  --> Y/Y Previous: +1.3%

===============

CHART: Industrial Production

+ Manufacturing
+ Capacity Utilization
JUNE 2026 UPDATE

 

===============

• Click here to view the full Federal Reserve report

==============

--> www.FedPrimeRate.com Privacy Policy <-- CLICK HERE to JUMP to the TOP of THIS PAGE >  SITEMAP  <