The Consumer Price Index for All Urban Consumers (CPI-U) decreased 0.4 percent on a seasonally adjusted basis in June after rising 0.5 percent in May, the U.S. Bureau of Labor Statistics reported today. This decline in the all items…
Source: U.S. Bureau of Labor Statistics5 min read
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The Consumer Price Index for All Urban Consumers (CPI-U) decreased 0.4 percent on a seasonally adjusted basis in June after rising 0.5 percent in May, the U.S. Bureau of Labor Statistics reported today. This decline in the all items index was the largest 1-month decrease since April 2020 when it fell 0.8 percent. Over the last 12 months, the all items index increased 3.5 percent before seasonal adjustment.
The index for energy fell 5.7 percent in June after rising 3.9 percent in May, 3.8 percent in April, and 10.9 percent in March. The energy index was the largest contributor to the monthly all items decrease, more than offsetting increases in other indexes including those for shelter and food. The index for food increased 0.2 percent over the month, as did the index for food at home and the index for food away from home.
The index for all items less food and energy was unchanged in June. Indexes that decreased over the month include motor vehicle insurance, communication, apparel, medical care, and used cars and trucks. Conversely, the indexes for recreation, household furnishings and operations, and personal care were among the major indexes that increased in June.
The all items index rose 3.5 percent for the 12 months ending June after rising 4.2 percent for the 12 months ending May. The all items less food and energy index rose 2.6 percent over the year, following a 2.9-percent increase over the 12 months ending May. The energy index increased 15.7 percent for the 12 months ending June. The food index increased 3.0 percent over the last year.
Food
The food index rose 0.2 percent in June, as it did in May. The index for food at home also increased 0.2 percent over the month. Four of the six major grocery store food group indexes increased in June. The meats, poultry, fish, and eggs index increased 0.6 percent over the month as the eggs index rose 4.3 percent. The index for other food at home increased 0.5 percent in June, and the index for dairy and related products rose 1.2 percent. The cereals and bakery products index increased 0.3 percent over the month.
In contrast, the index for nonalcoholic beverages fell 1.5 percent in June as the index for coffee declined 2.0 percent. The fruits and vegetables index decreased 0.2 percent over the month.
The food away from home index rose 0.2 percent in June. The index for full service meals rose 0.4 percent, and the index for limited service meals rose 0.1 percent over the month.
The index for food at home rose 2.7 percent over the 12 months ending in June. The fruits and vegetables index rose 5.3 percent over the last 12 months. The index for other food at home increased 2.4 percent, and the index for meats, poultry, fish, and eggs rose 2.6 percent over the year. The nonalcoholic beverages index increased 2.9 percent over the 12 months ending in June, and the cereals and bakery products index rose 2.4 percent over the same period. The index for dairy and related products rose 0.4 percent over the year.
The food away from home index rose 3.4 percent over the last year. The index for full service meals rose 3.7 percent, and the index for limited service meals rose 3.1 percent over the 12 months ending in June.
Energy
The index for energy decreased 5.7 percent in June, the largest 1-month decline since April 2020. The gasoline index decreased 9.7 percent over the month. (Before seasonal adjustment, gasoline prices also decreased 9.7 percent in June.) The index for electricity fell 1.0 percent in June. Conversely, the index for natural gas increased 0.5 percent over the same period.
The index for energy increased 15.7 percent over the past 12 months due in large part to the index for gasoline rising 26.7 percent over the same period. The electricity index increased 4.0 percent over the 12 months ending in June, and the natural gas index rose 3.0 percent.
All items less food and energy
The index for all items less food and energy was unchanged in June after rising 0.2 percent in May. The shelter index increased 0.1 percent over the month, the smallest 1-month change reported for that index since January 2021. The index for owners' equivalent rent rose 0.2 percent in June, and the index for rent increased 0.1 percent. The lodging away from home index fell 2.3 percent over the month.
The motor vehicle insurance index declined 2.0 percent in June after falling 1.7 percent in May. The index for communication fell 1.5 percent over the month, and the index for apparel declined 0.6 percent. The used cars and trucks index fell 0.2 percent in June.
The medical care index decreased 0.1 percent in June after rising 0.3 percent in May. The index for physicians' services decreased 0.2 percent over the month, and the index for prescription drugs declined 0.1 percent. Conversely, the hospital services index increased 0.1 percent in June.
The index for recreation increased 0.5 percent over the month after rising 0.3 percent in May. The household furnishings and operations index rose 0.2 percent in June as did the personal care index. The index for new vehicles was unchanged in June after declining 0.3 percent in May.
The index for all items less food and energy rose 2.6 percent over the past 12 months. The shelter index increased 3.3 percent over the last year. Other indexes with notable increases over the last year include airline fares (+26.5 percent), medical care (+2.0 percent), recreation (+2.8 percent), and household furnishings and operations (+2.5 percent).
Not seasonally adjusted CPI measures
The Consumer Price Index for All Urban Consumers (CPI-U) increased 3.5 percent over the last 12 months to an index level of 333.952 (1982-84=100). For the month, the index decreased 0.3 percent prior to seasonal adjustment.
The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 3.5 percent over the last 12 months to an index level of 327.075 (1982-84=100). For the month, the index decreased 0.5 percent prior to seasonal adjustment.
The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 3.4 percent over the last 12 months. For the month, the index decreased 0.3 percent on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision.
The Consumer Price Index news release for July 2026 is scheduled to be published on Wednesday, August 12, 2026, at 8:30 a.m. (ET).
Archived Nov 11, 2026. Source reuse policy. Formatting has been adapted for reading; the source’s conclusions remain attributed to its publisher.
MortgageRates.news analysis · Historical context
The mortgage market around this release
This original analysis is separate from the source article. It compares observed benchmarks around ; historical averages and yields are not current mortgage offers.
Read consumer inflation on a consistent basis
The Consumer Price Index measures changes in prices paid by urban consumers for a basket of goods and services. Check the index, reference month and seasonal adjustment before comparing figures. A monthly change and a twelve-month change describe different periods; the all-items index and the measure excluding food and energy cover different baskets. Consumer inflation informs the wider policy discussion, but the benchmark comparison below does not isolate this release from other information arriving during the month. BLS Consumer Price Index.
Nearest published observation on or before each target date
Calendar references, not an intraday reaction. A same-day market observation may have been published after a morning release. These figures do not show what was known at its exact publication time. One basis point (bp) is 0.01 percentage point; changes use the actual dated observations shown.
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What that benchmark difference would mean for a $300,000 loan
At the publication reference$1,894.23/month
6.49% · Jul 9, 2026
At the later reference$1,929.87/month
6.67% · Aug 13, 2026
The illustrative principal-and-interest payment is $35.64 higher per month. This holds the loan amount and term constant to show the arithmetic effect of the benchmark difference.
Assumptions: two separate hypothetical $300,000 loans, each fully amortizing over 30 years with 360 monthly payments and its stated fixed interest rate. Excludes points, lender fees, taxes, insurance, association charges and other costs. PMMS is a national average, not an APR or a personalized rate offer. These are not two payments on one existing loan.
Sources, historical coverage and calculation limits
Freddie Mac Primary Mortgage Market Survey®: available observations from Apr 2, 1971 through Nov 5, 2026. Cached history snapshot. History retrieved or verified Nov 11, 2026.
U.S. Department of the Treasury: available observations from Jan 4, 2016 through Nov 10, 2026. Cached history snapshot. History retrieved or verified Nov 11, 2026.
The 30-day comparisons use calendar days. Each cell selects the last published observation on or before its target; no rates are synthesized for missing dates. Gaps greater than seven days for daily Treasury data or fourteen days for weekly mortgage data are marked unavailable. Forward comparisons require the date to have arrived and source coverage to extend through it.
Historical files may contain revisions and do not reconstruct precisely what every market participant knew at the time. Freddie Mac changed its PMMS collection methodology in November 2022. Cross-period comparisons should account for that change. These windows include other news and cannot establish causation or forecast the next rate move.