BLS data show CPI down for 3rd Consecutive Month‏


The BLS is reporting that the Consumer Price Index for June shows the seasonally adjusted CPI was Negative 3rd Consecutive Month:

Similarly to April and May, a decline in the energy index caused the seasonally adjusted all items decrease in June. The index for energy decreased 2.9 percent in June, the same decline as in May, with a decline in the gasoline index accounting for most of the decrease. This more than offset an increase in
the index for all items less food and energy, while the food index was unchanged for the second month in a row.

The index for all items less food and energy rose 0.2 percent in June after increasing 0.1 percent in May. A broad array of indexes posted increases, including shelter, apparel, used cars, medical care, tobacco, and recreation. These increases more than offset declines in the indexes for household furnishings and operations and for airline fares. The 12-month change in the index for all items less food and energy remained at 0.9 percent for the third month in a row.

Energy is not doing any better:

The energy index declined 2.9 percent in June, the same decline as in May. The gasoline index declined 4.5 percent in June, its fifth consecutive monthly decline after nine consecutive monthly increases. The household energy index declined 1.6 percent in June, its largest decline in over a year. The fuel oil indexfell 3.2 percent and the electricity index declined 2.2 percent, more than offsetting a 0.6 percent increase in the natural gas index. The energy index has increased 3.0 percent over the last 12 months. The gasoline index has risen 3.9 percent over the last 12 months, with the index for household energy up 1.6 percent.

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