Consumer Price Index (CPI) Graphic
The Consumer Price Index (CPI) has seen one of the weakest 4-month periods in 60 years of data released by the Labor Department. Overall, consumer prices were unchanged in June and the so-called core index, which excludes food and energy, rose by just 0.1%.
The shelter index rose 0.2% in June, with the indexes for rent and owners’ equivalent rent both rising 0.3%. The index for lodging away from home fell 1.9%.
But the drag was largely due to the energy index, which fell 1.6% in June after declining 2.7% in May. The gasoline index also continued to fall, shedding 2.8% in June after a 6.4% decrease in May.
The other energy component indexes also declined in June, including a 0.6% decline in the electricity index and 0.2% decline in the index for natural gas. The gasoline index fell 0.4% over the past 12 months, while the other major energy components have gained over the same time period.
The index for natural gas increased 12.8% over the last year, and the electricity index gained 2.5%.
