June’s Consumer Price Index saw inflation cool more than expected, as prices declined 0.1% month-over-month compared to the estimated a 0.1% increase. Prices rose 3% year-over-year, compared to the estimated 3.1%. Madison Mills, Jared Blikre, and Anjalee Khemlani break down three sectors that have historically been hit hardest by sticky inflation and how they were affected in June.
Shelter inflation has been one of the biggest contributors to inflation this year. In June, shelter inflation grew 0.2% month over month and 5.2% year over year. The owners’ equivalent rent came in at the lowest levels since August 2021, revealing some progress in the overall sector.
Energy fell 2% month over month, marking a 1% year over year increase. Gasoline fell 3.8% from May, while energy services fell 0.1%.
Healthcare rose 0.2% month over month and 3.3% year over year. Physician services and hospitals grew 0.1% from May, and prescription drugs held steady.
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