Consumer Price Index fell 0.42 percent in June, Biggest Monthly Decline in Six Years

WASHINGTON, DC – Today, the Joint Economic Committee released its Monthly Inflation Update for June, showing that consumer prices continued to rise, but at a slower rate than anticipated.

Headline Consumer Price Index (CPI-U) dropped by 0.42 percent in June and rose to 3.53 percent over the past year. Core CPI, which excludes food and energy, dropped 0.02 percent in June and rose to 2.59 percent over the past year. Energy price inflation was down by 5.71 percent in June and was up 15.70 percent over the past year. Food price inflation rose 0.21 percent in June and was up 3.01 percent over the past year. 

Inflation varied by region, with annual headline CPI inflation highest in the Northeast (4.3 percent), then the Midwest (3.8 percent), followed by the South and West both at 3.2 percent.

In June, month over month real earnings increased slightly. Real average weekly earnings for all employees increased 0.77 percent, while real average hourly earnings increased 0.80 percent.

For the full update, visit: https://www.jec.senate.gov/public/index.cfm/republicans/inflation-update

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