Consumer Prices Up 2.9 Percent Annually

The Consumer Price Index rose 0.1 percent in June on a seasonally adjusted basis, according to U.S. Bureau of Labor Statistics. This followed a 0.2 percent May increase. Over the last 12 months, the all-items index rose 2.9 percent.

Prices for all items less food and energy, the “core CPI,” grew 0.2 percent in June, following a 0.2 percent May increase. The index rose 2.3 percent for the 12 months ending in June.

The food index rose 0.2 percent in June. Prices for both food at home and food away from home grew 0.2 percent. Over the past 12 months, food prices are up 1.4 percent.

The energy index declined 0.3 percent in June after a 0.9 percent increase in May. Gasoline prices increased, growing 0.5 percent. The energy index rose 12.0 percent in the last twelve months.

Read the BLS release.