The annual U.S. inflation rate ticked higher for the first time this year as consumer prices rose in June for a fifth consecutive month, according to a U.S. Labor Department report released Friday, July 17, 2015.
Inflation gains were mostly broad-based, from energy, to food, to shelter and to new vehicles.
In June, the Consumer Price Index, or CPI, swept up 0.3% after jumping 0.4% in May. Energy prices climbed for a second straight month, up 1.7% compared to 4.3% previously, and the cost of food rose 0.3% after two months of little change. Compared to a year ago, however, energy prices are 15% lower and within the major grouping, gasoline prices are down 23.3%. Conversely, the cost of food is 1.8% higher than a year earlier.
Stripping food and energy, the core inflation rate or base consumer prices in June advanced 0.2% after rising 0.1% in May.
From June 2014 to June 2015, U.S. inflation climbed 0.1% after being unchanged in the year ended May. The inflation rate increase is the first since December. Notably just a few months earlier, the rate dropped 0.2% through the 12 months ended April for the biggest 12-month decline since late 2009.
Core U.S. inflation rose 1.8% over the past 12 months following the 1.7% increase registered previously. The core reading is the key inflation figure monitored by the Federal Reserve. The Fed has targeted 2% as the desired level.
Below are most-watched consumer prices by category as well as their month-over-month changes. The final column offers the annual changes. The prices for these items are gathered and published by the Bureau of Labor Statistics (BLS) each month. For the full BLS summary report for May, visit: http://www.bls.gov/news.release/archives/cpi_07172015.htm.
Table of US Inflation / Consumer Prices (%)
|Dec 2014||Jan 2015||Feb 2015||Mar 2015||Apr 2015||May 2015||June 2015||12 Month|
|Food at home||0.2||-0.2||0.1||-0.5||-0.2||-0.2||0.4||1.0|
|Food away from home||0.3||0.2||0.3||0.2||0.2||0.2||0.2||3.0|
|Gasoline (all types)||-9.2||-18.7||2.4||3.9||-1.7||10.4||3.4||-23.3|
|Utility (piped) gas service||1.4||-3.4||-2.0||-2.7||-2.6||.0||0.3||-13.0|
|All items less food, energy||0.1||0.2||0.2||0.2||0.3||0.1||0.2||1.8|
|Commodities less food, energy||-0.2||-0.1||0.2||0.3||0.1||-0.1||-0.1||-0.4|
|Used cars and trucks||-0.8||-0.1||1.0||1.2||0.6||-0.4||-0.4||-0.7|
|Services less energy||0.2||0.3||0.1||0.2||0.3||0.2||0.3||2.5|
The Consumer Price Index report for July has a scheduled release date of August 19, 2015 at 8:30 a.m. (EDT).