CPI Spikes in June

By Staff Writer July 14, 2021

The Consumer Price Index for All Urban Consumers increased 0.9 percent in June on a seasonally adjusted basis after rising 0.6 percent in May, the U.S. Bureau of Labor Statistics reported. This was the largest 1-month change since June 2008 when the index rose 1.0 percent. Over the last 12 months, the all-items index increased 5.4 percent before seasonal adjustment; this was the largest 12-month increase since a 5.4-percent increase for the period ending August 2008.

The index for used cars and trucks rose sharply for the third consecutive month, increasing 10.5 percent in June. This was the largest monthly increase ever reported for the used cars and trucks index, which was first published in January 1953.

This increase accounted for more than one-third of the seasonally adjusted all items increase.

The index for new vehicles rose 2.0 percent in June, that index’s largest 1-month increase since May 1981.

The food index increased 0.8 percent in June, a larger increase than the 0.4-percent increase reported for May, according to the bureau. The energy index increased 1.5 percent in June, with the gasoline index rising 2.5 percent over the month.

The index for all items less food and energy rose 0.9 percent in June after increasing 0.7 percent in May. Many of the same indexes continued to increase, including used cars and trucks, new vehicles, airline fares, and apparel.

The all-items index rose 5.4 percent for the 12 months ending June; it has been trending up every month since January, when the 12-month change was 1.4 percent.

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Last modified on Wednesday, 21 July 2021 14:49