Inflation slowed down to 3% in June

The Consumer Price Index rose 0.2% in June on a seasonally adjusted basis, after increasing 0.1% in May, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.0% before seasonal adjustment.

Prices for all items less food and energy, the “core CPI,” rose 0.2% in June, the smallest 1-month increase in that index since August 2021.

The food index increased 0.1 percent in June after increasing 0.2% in the previous two months. The food at home index rose 0.1% over the month, following a 0.2% increase in May. Three of the six major grocery store food group indexes increased over the month. The index for meats, poultry, fish, and eggs declined 0.4% over the month. The index for cereals and bakery products rose 8.8% over the 12 months ending in June.  The food away from home index rose 0.4% in June. The food at home index rose 4.7% over the last 12 months.

The energy index rose 0.6% in June after falling 3.6 % in May. The gasoline index increased 1.0% in June, following a 5.6% decrease in the previous month. The fuel oil index (not seasonally adjusted) declined 0.4% in June.

Read the BLS release.