Washington: The annual inflation rate in the US was at 2.7% in July, below the market expectation of 2.8%.

According to Anadolu Agency, official figures from the Bureau of Labor Statistics revealed that 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 experienced an increase of 0.2% in July, which is the primary factor contributing to the all-items monthly increase. The food index remained unchanged over the month; in contrast, the index for energy saw a decline of 1.1% in July.