July 14, 2026
The U.S. Bureau of Labor Statistics reported that the Consumer Price Index for All Urban Consumers (CPI-U) decreased 0.4% on a seasonally adjusted basis in June 2026, following a 0.5% gain in May. This was the largest one-month decline since April 2020, when the index fell 0.8%. Over the past 12 months, the all items index rose 3.5% before seasonal adjustment.
Energy was the dominant driver of the monthly decline, falling 5.7% in June after rising 3.9% in May, 3.8% in April, and 10.9% in March. The energy index was the largest contributor to the monthly decrease, more than offsetting increases in other indexes including shelter and food. Within energy, gasoline fell 9.7% over the month and electricity declined 1.0%, while natural gas rose 0.5%. The shelter index increased just 0.1% in June, the smallest one-month change for that index since January 2021. The food index increased 0.2% over the month, with both food at home and food away from home also rising 0.2%.
Excluding food and energy, the all items index was unchanged in June. Notable declines were recorded in motor vehicle insurance, communication, apparel, medical care, and used cars and trucks. Major components that increased included recreation, household furnishings and operations, and personal care.
For the 12 months ending in June, the all items index rose 3.5%, down from 4.2% for the 12 months ending May. The all items less food and energy index increased 2.6% over the year, following a 2.9% gain through May. The energy index surged 15.7% over the past 12 months, while the food index advanced 3.0% over the same period.
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