US annual inflation at 2.7% in July, below forecasts

By Gokhan Ergocun

ISTANBUL (AA) - The annual inflation rate in the US was at 2.7% in July, below the market expectation of 2.8%.

According to official figures from the Bureau of Labor Statistics, the monthly inflation rate was also at 0.2%.

Food prices in the US rose by 2.9% in July on a yearly basis.

In June, the annual inflation was at 2.7% in the country, the bureau recalled.

Month-on-month, shelter prices rose 0.2% in July, which is the primary factor in the all-items monthly increase.

The food index was unchanged over the month; in contrast, the index for energy fell 1.1% in July.