June 2024 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.

(NOTE: This news release was reissued on July 11, 2024. BLS inadvertently published an index value and related 1-month and 12-month percent changes for inpatient hospital services for June 2024 that did not meet publication criteria. These data have been removed from tables 2, 6, and 7 of the news release. These data were not published in the database.)

The Consumer Price Index for All Urban Consumers (CPI-U) declined 0.1 percent on a seasonally adjusted basis, after being unchanged in May, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.0 percent before seasonal adjustment.

The index for gasoline fell 3.8 percent in June, after declining 3.6 percent in May, more than offsetting an increase in shelter. The energy index fell 2.0 percent over the month, as it did the preceding month. The index for food increased 0.2 percent in June. The food away from home index rose 0.4 percent over the month, while the food at home index increased 0.1 percent.

The index for all items less food and energy rose 0.1 percent in June, after rising 0.2 percent the preceding month. Indexes which increased in June include shelter, motor vehicle insurance, household furnishings and operations, medical care, and personal care. The indexes for airline fares, used cars and trucks, and communication were among those that decreased over the month.

The all items index rose 3.0 percent for the 12 months ending June, a smaller increase than the 3.3-percent increase for the 12 months ending May. The all items less food and energy index rose 3.3 percent over the last 12 months and was the smallest 12-month increase in that index since April 2021. The energy index increased 1.0 percent for the 12 months ending June. The food index increased 2.2 percent over the last year.

Food

The food index rose 0.2 percent in June after increasing 0.1 percent in May. The index for food at home rose 0.1 percent in June. Four of the six major grocery store food group indexes increased over the month. The index for other food at home rose 0.5 percent in June as the index for butter and margarine increased 2.4 percent. The dairy and related products index rose 0.6 percent over the month and the meats, poultry, fish, and eggs index increased 0.2 percent. The index for nonalcoholic beverages rose 0.1 percent in June.

The index for fruits and vegetables fell 0.5 percent in June, after being unchanged in May. The cereals and bakery products index decreased 0.1 percent over the month.

The food away from home index rose 0.4 percent in June, as it did in May. The index for full service meals rose 0.6 percent and the index for limited service meals increased 0.2 percent over the month.

The food at home index rose 1.1 percent over the last 12 months. The index for meats, poultry, fish, and eggs rose 2.6 percent over the last 12 months and the index for other food at home increased 1.6 percent. Over the same period, the nonalcoholic beverages index rose 1.5 percent and the cereals and bakery products index increased 0.5 percent. In comparison, the fruits and vegetables index fell 0.5 percent over the year and the dairy and related products index declined 0.1 percent.

The index for food away from home rose 4.1 percent over the last year. The index for limited service meals rose 4.3 percent over the last 12 months and the index for full service meals rose 3.9 percent over the same period.

Energy

The energy index fell 2.0 percent in June, as it did in May. The gasoline index decreased 3.8 percent in June. (Before seasonal adjustment, gasoline prices fell 3.9 percent in June.) The electricity index decreased 0.7 percent over the month and the fuel oil index decreased 2.4 percent. The index for natural gas rose 2.4 percent in June.

The energy index increased 1.0 percent over the past 12 months. The gasoline index fell 2.5 percent over this 12-month span. The index for electricity increased 4.4 percent over the last 12 months and the index for natural gas rose 3.7 percent. The index for fuel oil rose 0.8 percent over the same period.

All items less food and energy

The index for all items less food and energy rose 0.1 percent in June, the smallest increase in this index since August 2021. The shelter index increased 0.2 percent in June. The index for rent rose 0.3 percent over the month, as did the index for owners' equivalent rent; these were also the smallest increases in these indexes since August 2021. The lodging away from home index decreased 2.0 percent in June, after falling 0.1 percent in May.

The medical care index rose 0.2 percent in June after rising 0.5 percent in May. The index for physicians' services rose 0.1 percent over the month, as did the index for hospital services. The prescription drugs index was unchanged in June.

The motor vehicle insurance index rose 0.9 percent in June, following a 0.1-percent decrease in May. The index for household furnishings and operations increased 0.5 percent over the month. The indexes for personal care, education, recreation, and apparel also increased in June.

The index for airline fares fell 5.0 percent in June, following a 3.6-percent decrease in May. Over the month, the used cars and trucks index fell 1.5 percent, the communication index decreased 0.2 percent, and the new vehicles index declined 0.2 percent.

The index for all items less food and energy rose 3.3 percent over the past 12 months. The shelter index increased 5.2 percent over the last year, accounting for nearly seventy percent of the total 12-month increase in the all items less food and energy index. Other indexes with notable increases over the last year include motor vehicle insurance (+19.5 percent), medical care (+3.3 percent), personal care (+3.2 percent), and recreation (+1.3 percent).

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 3.0 percent over the last 12 months to an index level of 314.175 (1982-84=100). For the month, the index was unchanged prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.9 percent over the last 12 months to an index level of 308.054 (1982-84=100). For the month, the index was unchanged prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 2.8 percent over the last 12 months. For the month, the index was unchanged on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision.

Notice on June 2024 CPI new vehicles index

Because of a disruption to software systems that affected automotive dealers across the country, the June 2024 new vehicles index was estimated with fewer observed transaction prices than in previous months. Despite the reduced number of observations, the new vehicles index meets CPI publication criteria. BLS has no further information on when typical data flows will resume and is monitoring the situation closely.