On a 'core' basis, which strips out the more volatile costs of food and gas, prices in June climbed 0.2% over the prior month and 4.8% over last year. Both measures were slightly better than economist expectations.
The Consumer Price Index rose 0.2% over last month and 3% over the prior year in June, a slight acceleration from May's 0.1% month-over-month increase but a slowdown compared to the month's 4% annual gain.
On a "core" basis, which strips out the more volatile costs of food and gas, prices in June climbed 0.2% over the prior month and 4.8% over last year. Both measures were also slightly better than economist expectations.This content is not available due to your privacy preferences.Core inflation remained especially sticky last month as rent prices continue to surge. The index for rent and owners' equivalent rent rose 0.5% and 0.4%, respectively, on a seasonally adjusted basis.
Among the other indexes that rose in June was the index for motor vehicle insurance, which increased 1.7%, and the index for apparel which increased 0.3%. The indexes for recreation and personal care also increased last month, the BLS noted. The energy index decreased 16.7% for the 12 months ending in June although prices increased 0.6% on a seasonally adjusted, month-over-month basis after falling 3.6% in May's report.The food index increased 5.7% over the last year with food prices rising 0.1% from May to June. Egg prices fell another 7.9% last month after dropping 13.8% in May and 1.5% in April.in early trading following the release of the data. Treasury yields fell about 8 basis points to around 3.
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