WASHINGTON: The US inflation rate increased to 9.1 percent in June, driven up by increases in the cost of food, housing, and oil. Since the end of November 1981, the 12-month increase in the inflation rate was the biggest.
The all items index rose 9.1 percent during the previous 12 months, before seasonal adjustment, according to the US Bureau of Labor Statistics. As per seasonally adjusted data, the Consumer Price Index for All Urban Consumers (CPI-U) climbed by 1.3 percent in June after increasing by 1 percent in May.
The Bureau reports that the increase was broadly based, with the indexes for fuel, housing, and food making up the majority of the increase. With the energy index growing by 11.2 percent and the other major component indexes also increasing, the energy index increased by 7.5 percent over the course of the month and contributed to almost half of the increase in all goods. Both the food and the food at home indices increased by 1.0 percent in June.
The total items index increased 5.9 percent during the previous 12 months, excluding food and energy. The energy index experienced its greatest 12-month growth since the time frame ending in April 1980, a rise of 41.6 percent over the previous year. The food index saw its greatest 12-month increase since the 12-month period ending in February 1981, an increase of 10.4 percent for the 12-months ending in June.
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