By Tom Burnett CFA
On July 12, 2023, the Bureau of Labor Statistics released the Consumer Price Index information for June. The CPI rose 0.2% for the month, following an increase of 0.1% in May. The CPI rose by 3.0% in the 12 months ending in June, the lowest year-over-year increase since March 2021.
The Core Index, excluding food and energy, rose 0.2% in June and 4.8% in the latest 12-month period. The 4.8% figure was the lowest since August 2021. Energy prices fell 16.7% in the latest 12-month period, while food prices rose 5.7% over the past year.
The next CPI report will be issued August 10, 2023.
Tom Burnett CFA is Director of Research.