World Economic outlook - US. Consumer prices index (cpi) juni 2012 : Consumer prices in the U.S. flattened out in June as declining energy costs offset an increase in the price of meat, vegetables and other foods, the government reported Tuesday.
The consumer price index was unchanged last month on a seasonally adjusted basis, the Labor Department said. Food prices rose 0.2%, but the cost of energy dropped 1.4% as electricity bills and the price at the pump eased. Excluding food and gas, core consumer prices rose 0.2% in June.
Core CPI is used by the Federal Reserve to help determine whether to raise or lower a key interest rate that affects the cost of loans to consumers and businesses. The core rate has risen a modest 2.2% over the past 12 months — down from 2.3% in May — giving the Fed little cause for alarm.
The CPI figures matched Wall Street expectations. Economists surveyed by MarketWatch expected no change in overall prices and a 0.2% increase in the core rate.
The flat inflation reading helped put a little more money in the pockets of U.S. workers. Hourly wages adjusted for inflation rose 0.2% last month.
Gasoline prices fell again, though not as much as in May. The gasoline index dropped 2.0% following a 6.8% decline in the prior month. Also, electricity costs fell 0.5%.
Natural-gas prices climbed 1.7%, however. At the grocery store, meanwhile, prices rose 1.3% for fruit and vegetables, 0.2% for meat, poultry fish and eggs, and 0.1% for soft drinks.
The cost of dairy, cereal and baked goods fell slightly.
Over the past 12 months, unadjusted consumer prices have risen 1.7%, unchanged from May. Yet the year-over-year figure has fallen sharply from 3.9% as recently as last September.
Lower inflation gives the Fed more room to adopt additional measures to boost the U.S. economy. Consumer prices have eased considerably as a spike in energy costs earlier in the year unwinds
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