US Inflation Rate Steady at 2.1%

US consumer prices rose 2.1 percent year-on-year in June, the same rate recorded in May. On a monthly basis, prices increased 0.3 percent, following a 0.4 percent rise in the previous month, driven by higher gasoline cost.
BLS | Joana Taborda | joana.taborda@tradingeconomics.com 7/22/2014 1:38:39 PM
In contrast to the broad-based increase last month, the June seasonally adjusted increase in the all items index was primarily driven by the gasoline index. It rose 3.3 percent and accounted for two-thirds of the all items increase. Other energy indexes were mixed, with the electricity index rising, but the indexes for natural gas and fuel oil declining. The food index decelerated in June, rising only slightly, with the food at home index flat after recent increases.

The index for all items less food and energy also decelerated in June, increasing 0.1 percent after a 0.3 percent increase in May. The indexes for shelter, apparel, medical care, and tobacco all increased in June, and the index for household furnishings and operations rose for the first time in a year. However, the index for new vehicles declined after recent increases, and the index for used cars and trucks also fell.

The all items index increased 2.1 percent over the last 12 months, the same figure as for the 12 months ending May. The index for all items less food and energy rose 1.9 percent over the last 12 months, a slight decline from the 2.0 percent figure last month. The index for energy increased 3.2 percent over the span, and the food index rose 2.3 percent.

US Inflation Rate Steady at 2.1%