U.S. Consumer Price Index Drops 0.1% in June Amid Decreasing Gasoline Prices
Shelter and Food Indexes Experience Mixed Changes, Energy Index Falls for Second Consecutive Month
The U.S. Bureau of Labor Statistics reported a 0.1 percent decline in the Consumer Price Index for All Urban Consumers (CPI-U) in June, following no change in May. Over the past year, the all items index rose by 3.0 percent before seasonal adjustment.
Gasoline Prices Continue to Decline
In June, the index for gasoline fell by 3.8 percent, building on a 3.6 percent decrease in May. This significant drop in gasoline prices contributed to a 2.0 percent decline in the overall energy index for the month, matching the decrease from the previous month. Meanwhile, the electricity index fell by 0.7 percent, and the fuel oil index dropped by 2.4 percent. However, the natural gas index rose 2.4 percent in June.
Over the last 12 months, the energy index increased by 1.0 percent, with the gasoline index specifically falling by 2.5 percent. The electricity index rose by 4.4 percent, and the natural gas index increased by 3.7 percent during the same period.
