WASHINGTON — The U.S. June consumer price inde wasn’t pretty, with some price measures posting their worst performance in years. Overall June CPI was up 1.1% and core rose 0.3%, both bigger than private analysts expected.
CPI printed 5.0% higher over-the-year overall and rose 2.4% for the similar measure for core. The overall CPI gain was the largest since a similar rise in June 1982, and the last time the over-the-year gain was as big was May 1991.
The three-month overall CPI gain is now 7.9%, illustrating the effects of rising energy costs on U.S. prices.
Energy rose 10.4% in June with most areas higher — an exception was a 0.1% drop in electricity — as expected as crude oil prices rise. Food was up 0.8%, led by surges in vegetable and meat prices.
New vehicles were just 0.2% higher, but airline fares at plus-4.5%, tobacco 1.5% higher, doctor bills up 0.3%, hotels up 0.7%, and owners’ equivalent rent up 0.3% helped to boost core CPI.
— Market News International