July 12, 2023
The U.S. Bureau of Labour Statistics (BLS) reported that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% in June 2023, on a seasonally adjusted basis after rising 0.1% in May. The all-items index rose by 0.2% before seasonal adjustment over the last year. Over the past 12 months, the index for all-items increased by 3,0% before seasonal adjustments were made. For the 12 months ending in June, the energy index rose by 6%, while the food index rose by 4%.
The index for shelter contributed the most to the monthly increase in all-items which accounted for over 70% of the increase. The food index increased 0.1 percent in June after increasing 0.2 percent the previous month. The food at home index remained the same during the month, but the food away from home index increased by 0.4%. In contrast, the energy index lost 0.6% in June as the major energy component indices were mixed.
The index for all-items less food and energy increased by 0.2% in June, since the period ending March 2021, this was the smallest 12-month gain. Over the previous 12 months, the all items index that excludes food and energy increased by 4.8%. For the 12 months ended in June, the energy index fell by 16.7% percent, while the food index rose by 5.7%.
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