Tuesday, July 16, 2013

Consumer Prices Jumped 0.5% in June

Consumer prices jumped in May, rising 0.5% and fully offsetting March and April’s decline. Rising energy prices contributed to the gain. Prices are now 1.8% above year ago levels. Core CPI remained stable, increasing 0.2% from the previous month, and slightly decreased from the previous month’s year over year gain by 0.1% to1.6%.

The energy index rose sharply, increasing 3.4% from the previous month. Gas prices surged 6.3% and contributed heavily to the energy gains.

Food prices rose a modest 2.0% in June, reversing the previous month’s decline. It suggests that rising gas prices have started to impact the price of food.

Read the BLS report.

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