The Consumer Price Index for All Urban Consumers (CPI) rose by 0.1 in June month-on-month and by 2.9 percent year-on-year hitting highest level since February 2012.
According to the statement made by U.S. Bureau of Labor Statistics;
“CPI increased 0.1 percent in June on a seasonally adjusted basis after rising 0.2 percent in May, the U.S. Bureau of Labor Statistics reported today.
“Over the last 12 months, the all items index rose 2.9 percent before seasonal adjustment.
“The indexes for shelter, gasoline, and food all rose to lead to the seasonally adjusted increase in the all items index.
“The food index increased 0.2 percent in June, with the indexes for food at home and food away from home both rising 0.2 percent.
“Despite a 0.5-percent increase in the gasoline index, the energy index declined 0.3 percent, with the indexes for electricity and natural gas both falling.
“The index for all items less food and energy rose 0.2 percent in June.
“The shelter index rose 0.1 percent, and the indexes for medical care, used cars and trucks, new vehicles, and recreation all increased.
“The indexes for apparel, airline fares, and household furnishings and operations all declined in June.
“The all items index rose 2.9 percent for the 12 months ending June; this was the largest 12-month increase since the period ending February 2012.
“The index for all items less food and energy rose 2.3 percent for the 12 months ending June.
“The food index increased 1.4 percent, and the energy index rose 12.0 percent, its largest 12-month increase since the period ending February 2017.”