U.S. consumer price index rises 0.2% in July

WASHINGTON (MarketWatch)
U.S. consumer prices rose a seasonally adjusted 0.2% on gains for gasoline, housing, clothing and food, among other goods, the U.S. Department of Labor reported Thursday
Excluding energy and food, the core consumer-price index also rose 0.2%
Results for the overall CPI and core reading matched the forecasts from economists polled by MarketWatch
In June, the overall CPI rose 0.5%, while the core CPI rose 0.2%
In July prices for gasoline rose 1%, down from June's gain of 6.3%
Food prices in July rose 0.1%, compared with a gain of 0.2% in June
Consumer prices have increased 2% over the past 12 months, and the core has increased 1.7% Observers expect that the Federal Reserve could announce plans to taper its massive bond-buying program as early as September, though there's been some concern about inflation running too low
Also Thursday, the government reported that inflation-adjusted average hourly earnings fell 0.2% in July
Real wages have declined 0.1% over the past 12 months