July 19, 2007
On a seasonally adjusted basis, the Consumer Price Index for All Urban Consumers (CPI-U) advanced 0.2 percent in June, following a 0.7-percent increase in May.
The index for energy, which had increased sharply in each of the preceding three months, declined 0.5 percent in June. The index for petroleum-based energy decreased 0.9 percent and the index for energy services fell 0.1 percent.
The food index rose 0.5 percent in June with grocery store food prices up 0.6 percent.
The index for all items less food and energy advanced 0.2 percent in June, following a 0.1-percent rise in May. A larger increase in the index for shelter and an upturn in the index for new and used vehicles were responsible for the larger advance.
Consumer prices increased at a seasonally adjusted annual rate (SAAR) of 5.2 percent in the second quarter after advancing at a 4.7-percent rate in the first three months of 2007. This brings the year-to-date annual rate to 5.0 percent and compares with an increase of 2.5 percent in all of 2006.
For the 12 months ended in June 2007, the CPI-U rose 2.7 percent, as shown in the chart.