U.S. Consumer Prices Rise, Led by Shelter and Energy

Consumer prices in the U.S. rose more than expected in June, signaling persistent inflationary pressure in key categories.

According to the latest data from the Bureau of Labor Statistics, the Consumer Price Index (CPI) climbed 0.3% month-over-month, following a modest 0.1% increase in May. On an annual basis, headline inflation reached 2.7%, up from 2.4% the previous month.

Shelter remained the primary driver of the monthly gain, rising 0.2% in June. Given its significant weight in the CPI basket, even slight increases in housing costs continue to have a notable impact on overall inflation.

Energy prices also added to the upward pressure, climbing 0.9% on the month. Gasoline prices rose 1.0%, reversing some of the recent declines. Food costs increased by 0.3%, with both grocery store prices and dining-out expenses contributing equally to the rise.

Excluding food and energy, core CPI advanced 0.2%, slightly above May’s 0.1% increase. Price gains were reported in household furnishings, medical care, recreation, apparel, and personal care. However, these were partially offset by declines in used cars and trucks, new vehicles, and airline fares.

Year-over-Year Highlights:

Headline CPI: +2.7%
Core CPI: +2.9%
Food prices: +3.0%
Energy prices: −0.8%

The June report suggests that while overall inflation remains moderate, certain core components, especially shelter, continue to fuel steady price growth, keeping the Federal Reserve on alert as it weighs its next policy moves.

Source: U.S. Bureau of Labor Statistic

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