Which goods led to the 1.3 percent increase in the CPI?
The price increases that led to the 1.3 percent increase in inflation primary relate to "the indexes for gasoline, shelter, and food." For instance, the "energy index rose 7.5 percent over the month and contributed nearly half of the all items increase." Gasoline also saw a spike, rising 11.2 percent last month. These increases in the cost of fuel, impacted the food market which rose 1.0 percent, primarily do to increased transportation costs.
Additionally, housing costs like rent shot up in June, as did the price of used trucks, medical care, and vehicle insurance.
There were only a few indexes that saw an decrease in price; one of which was airfare. However, airline tickets are still up thirty-four percent compared to this time last year.
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