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  HOME | Business & Economy (Click here for more)

US Consumer Prices Hold Steady

WASHINGTON – The US Consumer Price Index (CPI) remained unchanged in June after falling 0.1 percent the previous month, the Labor Department said Friday.

The inter-annual inflation rate was 1.6 percent, down from 1.9 percent in May.

Analysts expected a 0.10 percent rise in June over the previous month.

Core inflation, which excludes traditionally more volatile food and energy prices, rose 0.10 percent in June and 1.7 percent over the 12-month period.

The CPI was stationary in June due mainly to a decrease in energy costs, with gasoline prices falling 2.8 percent for a cumulative decline of 4 percent since June 2016.

Food prices were flat last month and have increased by only 0.90 percent from June 2016.

Residential housing costs, which include rents and account for one-third of the CPI figure, increased by 0.20 percent in June and were 3.3 percent higher than a year earlier.

After a spike earlier this year, inflation has stabilized at around 2 percent on an annualized basis, the US Federal Reserve’s target rate.

 

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