October 7, 2022
Fargo, US 46 F

More Analysis: Consumer Price Index Increases

The Consumer Price Index for All Urban Consumers increased 1.3 percent in June on a seasonally adjusted basis after rising 1.0 percent in May. Over the last 12 months, the all-items index increased 9.1 percent before seasonal adjustment. The U.S. Bureau of Labor Statistics reports the increase was broad-based, with the indexes for gasoline, shelter, and food being the largest contributors. The all-items index increased 9.1 percent for the 12 months ending June, the largest 12-month increase since the period ending November 1981. The food index increased 1.0 percent in June, following a 1.2-percent increase in May. The index for food at home also rose 1.0 percent in June, the sixth consecutive increase of at least 1.0 percent in that index. Five of the six major grocery store food group indexes rose in June. The index for other food at home rose 1.8 percent, with sharp increases in the indexes for butter and for sugar and sweets.

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