The consumer price index was unchanged in June. This is the third consecutive month that the index has failed to advance. Lower gasoline prices resulted in declining energy costs of 1.4% over the month, dominating the 0.2% increase in the food index.
Core prices continued modest gains, growing 0.2% for the fourth consecutive month. Prices of goods rose at 0.2%, the same level of growth seen in the previous four months. Prices on services rose 0.2% as well, the same level of growth as the previous month.
Prices are currently 1.7% above year-ago levels, with core prices up 2.2% over the same period. While energy has fallen 3.9% from the year-ago level, the food index has increased 2.7% over the same period.
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