The Consumer Price Index increased 0.2% in June on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported Friday. Over the last 12 months, the all-items index rose 1.0% before seasonal adjustment. Economists were expecting an increase of 0.3%.
For the second consecutive month, increases in the indexes for energy and all items less food and energy more than offset a decline in the food index to result in the seasonally adjusted all items increase. The food index fell 0.1%, with the food at home index declining 0.3%. The energy index rose 1.3%, due mainly to a 3.3% increase in the gasoline index; the indexes for natural gas and electricity declined.
The index for all items less food and energy increased 0.2% in June. The shelter index rose 0.3%, and a broad array of indexes also increased, including medical care, education, airline fares, motor vehicle insurance, and recreation. In contrast, the indexes for used cars and trucks, apparel, communication, and household furnishings and operations all declined in June.
The all items index rose 1.0% for the 12 months ending June. This is the same increase as for the 12 months ending May, but smaller than the 1.7% average annual increase over the past 10 years. The index for all items less food and energy rose 2.3% for the 12 months ending June, a larger increase than the 2.2% rise for the 12 months ending May, and above the average annual rate of 1.9% over the past 10 years.