The U.S. Bureau of Labor Statistics reported that the Consumer Price Index for All Urban Consumers (CPI-U) rose by 0.2 percent in June on a seasonally adjusted basis, following a 0.1 percent increase in May. Over the last 12 months, the all items index increased by 3.0 percent before seasonal adjustment.
The main contributors to the monthly increase were the indexes for shelter and motor vehicle insurance. The food index increased slightly in June, with food at home remaining unchanged and food away from home rising.
The energy index rose by 0.6 percent in June, driven by mixed performances in major energy component indexes.
The index for all items less food and energy rose by 0.2 percent, marking the smallest 1-month increase since August 2021. Among the items that increased in June were shelter, motor vehicle insurance, apparel, recreation, and personal care, while indexes for airline fares, communication, used cars and trucks, and household furnishings and operations decreased.
Over the 12 months ending in June, the all items index increased by 3.0 percent, the smallest 12-month increase since March 2021. The all items less food and energy index rose by 4.8 percent over the last 12 months. Notably, the energy index decreased by 16.7 percent for the 12 months ending in June, while the food index increased by 5.7 percent over the last year.
