WASHINGTON (NEXSTAR) - Lower prices for gas and food kept inflation steady last month but the cost of housing was significantly higher in July than it was last year.

Gas prices plummeted last year and that's kept inflation lower than expected but a different number, core inflation, which excludes gas and groceries rose 3% and economists say it's increasing sharply.

“The economic indicators show that we are moving in the right direction,” said White House Press Secretary Karoline Leavitt.

The White House says it's a good economic report.

Inflation in July was lower than most economists expected but prices rose 2.7% over the year before.

“It's better than expected but in my opinion it's still a little hot. Anytime we're at that 2% inflation number we're in the wrong spot,” said Thomas A

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