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Consumer Price Index (CPI) Posts Near Weakest 4-Month Stretch in 60 Years

Consumer Price Index (CPI) Graphic

The Consumer Price Index (CPI) has seen one of the weakest 4-month periods in 60 years of data released by the Labor Department. Overall, consumer prices were unchanged in June and the so-called core index, which excludes food and energy, rose by just 0.1%.

The shelter index rose 0.2% in June, with the indexes for rent and owners’ equivalent rent both rising 0.3%. The index for lodging away from home fell 1.9%.

But the drag was largely due to the energy index, which fell 1.6% in June after declining 2.7% in May. The gasoline index also continued to fall, shedding 2.8% in June after a 6.4% decrease in May.

The other energy component indexes also declined in June, including a 0.6% decline in the electricity index and 0.2% decline in the index for natural gas. The gasoline index fell 0.4% over the past 12 months, while the other major energy components have gained over the same time period.

The index for natural gas increased 12.8% over the last year, and the electricity index gained 2.5%.

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PPD Business Staff

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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