June 2014 Consumer Price Index

Historical release narrative reproduced from the official public-domain source. Statistical tables, standard technical appendices, administrative material and attendance rosters are omitted; formatting is adapted for reading. Figures retain the release's historical context and may have been revised. Consult the linked source for the complete document.

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent in June on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.1 percent before seasonal adjustment.

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.

Seasonally adjusted changes from preceding month Un- adjusted 12-mos. Dec. Jan. Feb. Mar. Apr. May June ended 2013 2014 2014 2014 2014 2014 2014 June 2014

Consumer Price Index Data for June 2014

Food

The food index rose 0.1 percent in June; this compares to a 0.5 percent increase in May and is its smallest monthly increase since January. The index for food at home was unchanged in June after increasing 2.2 percent over the first five months of the year. Major grocery store food groups were mixed in June. The index for dairy and related products turned down in June, falling 0.4 percent after rising in each of the previous seven months. The fruits and vegetables index also turned down, falling 0.3 percent after a 1.1 percent increase in May. The index for cereals and bakery products fell for the second month in a row, declining 0.2 percent. In contrast to these declines, the index for meats, poultry, fish, and eggs increased in June, though its 0.2 percent increase was its smallest since December. The index for other food at home increased 0.1 percent in June, while the index for nonalcoholic beverages was unchanged. The index for food at home has increased 2.4 percent over the past year, with the index for meats, poultry, fish, and eggs up 7.5 percent, but the indexes for nonalcoholic beverages and for cereals and bakery products both declining. The index for food away from home rose 0.2 percent in June and has risen 2.2 percent over the past 12 months.

Energy

The energy index increased 1.6 percent in June, its third increase in a row and largest since December. The gasoline index rose for the third month in a row, increasing 3.3 percent. (Before seasonal adjustment, gasoline prices increased 0.3 percent.) The electricity index also increased in June, rising 0.2 percent. In contrast, the fuel oil index fell 1.7 percent, its fourth consecutive decline. The index for natural gas also decreased, falling 2.6 percent. Over the past 12 months, the energy index has increased 3.2 percent, with its major components increasing from a low of 2.0 percent (gasoline) to a high of 5.1 percent (natural gas).

All items less food and energy

The index for all items less food and energy increased 0.1 percent in June after a 0.3 percent increase in May. The shelter index decelerated, increasing 0.2 percent in June after a 0.3 percent increase the prior month. The indexes for rent and owners’ equivalent rent repeated their May increases of 0.3 percent and 0.2 percent, respectively. However, the index for lodging away from home turned down in June, falling 1.9 percent after rising 2.0 percent in May. The apparel index rose 0.5 percent in June, its largest increase since last July. The medical care index rose 0.1 percent in June; the index for medical care services was unchanged, but the index for prescription drugs increased 1.0 percent. The index for household furnishings and operations rose 0.2 percent in June, its first increase since June 2013. The index for airline fares, which rose 5.8 percent in May, increased 0.4 percent in June. The tobacco index also rose, increasing 1.0 percent, and the recreation index advanced 0.1 percent. In contrast, the new vehicles index fell in June; its 0.3 percent decrease was its first decline since January. The index for used cars and trucks also decreased, declining 0.4 percent.

The index for all items less food and energy has risen 1.9 percent over the last 12 months; this is slightly lower than the 2.0 percent figure in May, but higher than the 1.7 percent average annualized increase over the past five years. The shelter index has increased 2.8 percent over the last 12 months, while the medical care index has risen 2.6 percent. The index for new vehicles was unchanged over the span.

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 2.1 percent over the last 12 months to an index level of 238.343 (1982-84=100). For the month, the index rose 0.2 percent prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.0 percent over the last 12 months to an index level of 234.702 (1982-84=100). For the month, the index rose 0.2 percent prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 1.9 percent over the last 12 months. For the month, the index rose 0.2 percent on a not seasonally adjusted basis. Please note that the indexes for the post-2012 period are subject to revision.

Facilities for Sensory Impaired

Information from this release will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200, Federal Relay Services: 1-800-877-8339.