World Perspectives

Consumer Price Index and Employment Reports

The Bureau of Labor Statistics (BLS) released the June CPI this morning. The CPI increased 0.3 percent on a seasonally adjusted basis in June, after rising 0.1 percent in May. The CPI is at its highest since January of this year. Over the last 12 months, the all-items index increased 2.7 percent before seasonal adjustment, after rising 2.4 percent over the 12 months ending May. The core CPI, including all-items less food and energy, rose 2.9 percent over the last 12 months. The energy index decreased 0.8 percent for the 12 months ending June, while the food index increased 3 percent over the last 12 months.

Three of the six major grocery store food group indexes increased in June, while the other three declined. The index for nonalcoholic...

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