The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in June on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.7 percent before seasonal adjustment.

US Inflation: April – June 2012 Consumer Prices

The energy index continued to fall in June, but its decline was offset by increases in the indexes for food and all items less food and energy. The energy index fell 1.4 percent as the gasoline index declined for the third month in a row; other energy indexes were mixed. The food index rose 0.2 percent after being unchanged last month as the index for food at home turned up in June.

The index for all items less food and energy rose 0.2 percent in June, the fourth consecutive such increase. The shelter index posted its smallest increase since September, the index for used cars and trucks was unchanged after a series of increases, and the index for airline fares declined. However, the index for medical care posted its largest increase since 2010 and the indexes for apparel and recreation both rose substantially in June.

The 12-month change in the index for all items was 1.7 percent in June, the same figure as in May. The energy index declined 3.9 percent over the last 12 months, while the food index rose 2.7 percent. The index for all items less food and energy rose 2.2 percent for the 12 months ending June, a slight decline from the 2.3 percent figure in May.

Food Inflation

The food index rose 0.2 percent in June after being unchanged in May. The index for food at home turned up in June, rising 0.1 percent after declining 0.1 percent the prior month. Major grocery store food groups were mixed, with three rising and three declining. The fruits and vegetables index rose 1.3 percent as the fresh vegetables index increased 3.2 percent. The index for meats, poultry, fish, and eggs rose 0.2 percent, and the nonalcoholic beverages index rose 0.1 percent. In contrast, the index for cereals and bakery products declined 0.4 percent in June after falling 0.1 percent in May. The index for dairy and related products declined 0.3 percent in June, its fifth consecutive decline, and the index for other food at home fell 0.1 percent. The food at home index has risen 2.6 percent over the past 12 months, with all six major grocery store food groups rising from a range of 0.9 percent (nonalcoholic beverages) to 4.1 percent (other food at home). The index for food away from home rose 0.2 percent in June and has increased 2.9 percent over the past year.

Energy Inflation

The energy index declined 1.4 percent in June. This followed declines of 1.7 percent in April and 4.3 percent in May. The gasoline index fell 2.0 percent after a 6.8 percent May decline. (Before seasonal adjustment, gasoline prices decreased 6.1 percent in June.) The fuel oil index fell sharply in June, declining 7.9 percent. The electricity index, which rose 0.3 percent in May, fell 0.5 percent in June. In contrast to these declines, the index for natural gas turned up in June, rising 1.7 percent after declining 4.1 percent in May. For the last 12 months, the gasoline index has declined 4.3 percent, the fuel oil index has fallen 6.8 percent, and the index for natural gas has decreased 13.6 percent. The electricity index is the only major energy component to rise over the past year, increasing 0.5 percent.

All items less food and energy

The index for all items less food and energy increased 0.2 percent in June, the fourth straight such increase. The index for shelter rose 0.1 percent after rising 0.2 percent in each of the previous eight months. The indexes for rent and owners’ equivalent rent both increased 0.1 percent, while the index for lodging away from home rose 0.9 percent. The medical care index rose 0.6 percent, its largest increase since September 2010, as the index for hospital services increased 1.2 percent and the physicians’ services index rose 0.8 percent. The index for recreation increased 0.3 percent in June, its largest increase since January. The apparel index rose for the fourth month in a row, increasing 0.5 percent after a 0.4 percent increase in May. The new vehicles index advanced 0.2 percent, the same increase as in May. The household furnishings and operations index turned up in June, rising 0.2 percent after declining in May, and the indexes for tobacco and personal care rose in June as well. The index for used cars and trucks, however, was unchanged in June after rising in each of the three previous months, and the index for airline fares fell sharply, declining 2.5 percent.

The index for all items less food and energy has risen 2.2 percent over the last 12 months, a slight decrease from the 2.3 percent figure of March, April and May, but still above the 1.9 percent average annualized increase for the past ten years. The shelter index has also risen 2.2 percent over the last year, slightly above its 2.1 percent annualized increase over the past ten years.

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.7 percent over the last 12 months to an index level of 229.478 (1982-84=100). For the month, the index decreased 0.1 percent prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 1.6 percent over the last 12 months to an index level of 226.036 (1982-84=100). For the month, the index decreased 0.2 percent prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 1.6 percent over the last 12 months. For the month, the index decreased 0.1 percent on a not seasonally adjusted basis. Please note that the indexes for the post-2010 period are subject to revision.

The Consumer Price Index for July 2012 is scheduled to be released on Wednesday, August 15, 2012, at 8:30 a.m. (EDT).