Inflation Eased to 3.5 Percent in June, Though Energy Prices Stayed High
Prices rose 3.5 percent from a year earlier, down from 4.2 percent in May. Excluding food and energy, the rate fell to 2.6 percent.
Consumer prices were 3.5 percent higher in June than a year earlier, down from 4.2 percent in May, the Bureau of Labor Statistics said July 14. Excluding food and energy, prices rose 2.6 percent over the year, down from 2.9 percent.
Energy remained the biggest driver: the energy index was up 15.7 percent from a year earlier, as the war in the Middle East kept fuel prices elevated. Food at home rose 2.7 percent over the year, with fruits and vegetables up 5.3 percent, and restaurant meals rose 3.4 percent. Rent and owners' equivalent rent each rose modestly in the month.
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