The American cost of living fell in June, marking a third consecutive monthly decline, according to government data released Friday, July 16, 2010.
Consumer prices edged down 0.1% in June, the Labor Department said in its monthly Consumer Price Index report. The CPI is the key reading of inflation at the consumer level. Lower gasoline prices were a major contributing factor.
"Similarly to April and May, a decline in the energy index caused the seasonally adjusted all items decrease in June," the Labor Department stated. "The index for energy decreased 2.9 percent in June, the same decline as in May, with a decline in the gasoline index accounting for most of the decrease. This more than offset an increase in the index for all items less food and energy, while the food index was unchanged for the second month in a row."
Core consumer prices, which exclude the more volatile food and energy costs, rose 0.2% last month.
Inflation over the past 12 months increased 1.1%. The core inflation rate advanced 0.9% over the last year.
Website Site Updates
The buying power of the U.S. dollar can be compared between any dates from 1913 to 2010, as the US Inflation Calculator has been updated with June’s data. The following 2010 inflation rate and data pages were also updated:
- Historic Consumer Index Data
- 2010 Inflation Rates
- Historical Inflation Rates
- Rate of Inflation, Annual Averages
For a more detailed report of consumer prices, read US Annual Inflation at 1.1%.