U.S. consumer prices experienced their biggest year-over-year jump in 17 years last month, with increases in clothing, airline fares and education along with food and fuel, Bloomberg reported.

The Consumer Price Index rose 0.8 percent, double the 0.4 percent increase analysts surveyed by Bloomberg expected. The cost of living soared 5.6 percent in the year ended July 31, the biggest increase since January 1991.

But with commodity prices decreasing since mid-July, consumer price increases may slow in upcoming months.

Energy prices rose 4 percent after a 6.6 percent jump in June, while food prices, which account for about one-fifth of the Consumer Price Index, rose 0.9 percent after a 0.8 percent increase in June.

Excluding food and energy, prices rose 0.3 percent. Clothing prices rose 1.2 percent, the cost of airline tickets jumped 1.3 percent and education expenses increased 0.5 percent.

Meanwhile, the report also said wages fell 0.8 percent after adjusting for inflation. Wages were down 3.1 percent for the past 12 months, the biggest year-over-year decline since 1990.