Consumer prices up 0.5 percent in June

July 16, 2013 at 9:50 AM
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WASHINGTON, July 16 (UPI) -- Consumer prices remained docile in June, but climbed faster than expected the U.S. Bureau of Labor Statistics said Tuesday.

Prices have climbed 0.5 percent in June from May, gaining faster than the 0.3 percent rate predicted by economists. Over 12 months, the consumer price index rose 1.8 percent, up from 1.4 percent in May and above the 1.5 percent forecast.

Core prices, which excludes energy and food items, gained 1.6 percent over the past 12 months.

As the figures suggest, fuel prices are the heaviest contributor to the gains. In June, the gasoline index made up about two thirds of the seasonally adjusted inflation rate overall, the bureau said.

The rest of the energy sector was mixed with natural gas and fuel oil declining.

Food prices also turned higher in June after sliding in May

From May to June core prices rose 0.2 percent, consistent with May's advance. Indexes for shelter, medical care and apparel pushed core prices higher in June, as did price changes for new vehicles and household furnishings.

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