Skip to Content

June CPI Report Shows Inflation Softening at a 3% Annual Rate

The CPI fell 0.1% in June, weaker than expected.

Illustration of the Federal Reserve with currency bubbles, depicting inflation

The Bureau of Labor Statistics reported that the Consumer Price Index climbed 3.0% in June from year-ago levels—a decrease from May’s 3.3% rate.

The CPI decreased 0.1% from month-ago levels after being unchanged in May. Core CPI, which excludes volatile food and energy costs, climbed 3.3% over the last 12 months after rising 3.4% in May. Monthly core CPI increased 0.1% in June after rising 0.2% in May.

Economists anticipated that the overall CPI would rise 0.1% on a monthly basis in June, according to FactSet’s consensus estimates. The forecasts called for the annual inflation rate to fall to 3.1% from 3.3%. Core inflation was expected to remain slightly higher, at 0.2% growth on a monthly basis and 3.4% growth on an annual basis.

Consumer Price Index

Month-over-month changes.

June CPI Report Key Stats

  • CPI decreased 0.1% after being unchanged in May.
  • Core CPI climbed 0.1% after rising by 0.2% in May.
  • CPI increased 3.0% year over year after growing by 3.3% the prior month.
  • Core CPI rose 3.3% from year-ago levels after growing 3.4% in May.

Food prices increased 0.2% after growing 0.1% in May. Food-at-home prices increased 0.1% over the month, while food-away-from-home (restaurant) prices increased 0.4%.

Energy prices were mixed after declining 2% the prior month. Utility (piped) gas service prices climbed 2.4%, fuel oil prices fell 2.4%, gasoline prices fell 3.8%, and electricity prices fell 0.7%.

Shelter prices increased 0.2% after rising 0.4% in May.

Consumer Price Index

Month-over-month changes.

This article was generated with the help of automation and reviewed by Morningstar editors. Learn more about Morningstar’s use of automation.

The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar’s editorial policies.

More in Economy

About the Author

Sponsor Center