Consumer prices fell 0.1% in June, which was equal to an expected -0.1% decline, according to the Consumer Price Index (CPI). Core consumer prices, stripping out volatile food and gas prices, rose 0.2% vs. an expected 0.1% increase.
Looking at a break-down of the overall CPI, we can see how price declines for energy were a major factor in the June result. In the core CPI, the largest rises were for autos and apparel:
The energy index declined 2.9 per cent in June, the same decline as in May. The gasoline index declined 4.5 per cent in June, its fifth consecutive monthly decline after nine consecutive monthly increases. The household energy index declined 1.6 per cent in June, its largest decline in over a year. The fuel oil index fell 3.2 per cent and the electricity index declined 2.2 per cent, more than offsetting a 0.6 per cent increase in the natural gas index. The energy index has increased 3.0 per cent over the last 12 months. The gasoline index has risen 3.9 per cent over the last 12 months, with the index for household energy up 1.6 per cent.
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