June 2018 Consumer Price Index

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The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 percent in June on a seasonally adjusted basis after rising 0.2 percent in May, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index rose 2.9 percent before seasonal adjustment.

The indexes for shelter, gasoline, and food all rose to lead to the seasonally adjusted increase in the all items index. The food index increased 0.2 percent in June, with the indexes for food at home and food away from home both rising 0.2 percent. Despite a 0.5-percent increase in the gasoline index, the energy index declined 0.3 percent, with the indexes for electricity and natural gas both falling.

The index for all items less food and energy rose 0.2 percent in June. The shelter index rose 0.1 percent, and the indexes for medical care, used cars and trucks, new vehicles, and recreation all increased. The indexes for apparel, airline fares, and household furnishings and operations all declined in June.

The all items index rose 2.9 percent for the 12 months ending June; this was the largest 12-month increase since the period ending February 2012. The index for all items less food and energy rose 2.3 percent for the 12 months ending June. The food index increased 1.4 percent, and the energy index rose 12.0 percent, its largest 12-month increase since the period ending February 2017.

Seasonally adjusted changes from preceding month Un- adjusted 12-mos. Dec. Jan. Feb. Mar. Apr. May June ended 2017 2018 2018 2018 2018 2018 2018 June 2018

Food

The food index rose 0.2 percent in June after being unchanged in May. The index for food at home rose 0.2 percent, as five of the six major grocery store food group indexes increased. The index for dairy and related products rose 0.7 percent after declining in May. The index for cereals and bakery products increased 0.6 percent, its largest 1-month increase since October 2015. The index for fruits and vegetables increased 0.5 percent, with the index for fresh fruits rising 1.6 percent and the fresh vegetables index falling 0.3 percent. The nonalcoholic beverages index increased 0.3 percent in June, and the index for other food at home rose 0.1 percent. The index for food away from home also increased in June, rising 0.2 percent.

The index for meats, poultry, fish, and eggs declined in June, falling 0.6 percent. The decline largely reflected a 7.1-percent decrease in the eggs index. The index for pork also declined, while the indexes for beef and poultry increased.

Over the last 12 months, the index for food away from home increased 2.8 percent, and the food at home index rose 0.4 percent. Five of the six major grocery store food group indexes rose over the past year, though meats, poultry, fish, and eggs (up 1.2 percent) was the only one to rise more than 0.5 percent. The index for nonalcoholic beverages was the only one to decline over the year, falling 0.5 percent.

Energy

The energy index fell 0.3 percent in June, as declines in the indexes for electricity and natural gas more than offset an increase in the gasoline index. The index for electricity fell 1.4 percent in June after rising in May. The index for natural gas fell 1.7 percent, its fourth consecutive decline. The gasoline index rose 0.5 percent in June following a 1.7-percent increase in May. (Before seasonal adjustment, gasoline prices increased 0.3 percent in June.)

The energy index increased 12.0 percent over the past year, as the gasoline index increased 24.3 percent. The index for fuel oil also rose sharply, increasing 30.8 percent. In contrast, the index for natural gas declined 2.1 percent, and the electricity index decreased slightly, falling 0.1 percent.

All items less food and energy

The index for all items less food and energy increased 0.2 percent in June. The shelter index rose 0.1 percent in June. The indexes for rent and owners' equivalent rent both rose 0.3 percent, but the index for lodging away from home fell 3.7 percent in June after rising 2.9 percent in May. The medical care index increased 0.4 percent in June. The hospital services index increased 0.8 percent, the index for prescription drugs rose 0.3 percent, and the physicians' services index was unchanged.

The index for used cars and trucks rose 0.7 percent in June after declining in May. The new vehicles index increased 0.4 percent in June following a 0.3-percent increase in May. The index for recreation rose 0.2 percent in June, and the indexes for communication, motor vehicle insurance, education, and alcoholic beverages also increased.

The apparel index fell 0.9 percent in June after being unchanged in May. The index for airline fares also fell 0.9 percent, its third consecutive decline. The index for household furnishings and operations fell 0.1 percent, and the index for tobacco fell 0.4 percent. The index for personal care was unchanged in June.

The index for all items less food and energy rose 2.3 percent over the past 12 months; this figure has been generally trending upwards since it was 1.7 percent for the period ending November 2017. The shelter index rose 3.4 percent over the last 12 months, and the medical care index rose 2.5 percent. Indexes that declined over the past 12 months include those for airline fares, new vehicles, used cars and trucks, and communication.

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 2.9 percent over the last 12 months to an index level of 251.989 (1982-84=100). For the month, the index increased 0.2 percent prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 3.1 percent over the last 12 months to an index level of 246.196 (1982-84=100). For the month, the index increased 0.2 percent prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 2.7 percent over the last 12 months. For the month, the index increased 0.1 percent on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision.