Consumer Price Index Rises 0.2% in June, the smallest since August 2021
CPI rose 3% through the past 12 months, the smallest since March 2021
The Consumer Price Index (CPI) for all urban consumers rose 0.2% in June, the smallest increase since August 2021. The increase was driven by higher prices for shelter, motor vehicle insurance, and apparel. Food prices were unchanged, while energy prices rose 0.6%, a press release from the U.S. Bureau of Labor Statistics (BLS) says.
The CPI is a measure of the prices of goods and services purchased by consumers. The June increase was the smallest since August 2021, when the CPI rose 0.1%. The 12-month increase in the CPI was 3.0%, the smallest since March 2021.
The shelter index, which measures the cost of housing, rose 0.4% in June. The motor vehicle insurance index rose 1.7%, and the apparel index rose 0.3%. Food prices were unchanged, while energy prices rose 0.6%.
