Key Points:
- The Consumer Price Index (CPI) increased 1.3% in June and is up 9.1% in the last year, the highest reading since 1981.
- Price increases in the last year have been broad, impacting businesses and consumers.
- The overall food index rose 10.4%, food at home rose 12.2%, and food away from home rose 7.7% over the past 12 months.
- The largest increase in food was for cereals and bakery products, which increased 13.8%.
- The index for food away from home rose 7.7%, full service meals rose 8.9%, and limited service meals rose 7.4% over the last 12 months.
- The energy index rose 41.6% over the past 12 months as all the major energy component indexes increased.
- The gasoline index rose 59.9%, electricity increased 13.7%, and natural gas rose 38.4% over the last 12 months.
- The index for all items less food and energy rose 5.9% over the past 12 months.
- The index for airline fare rose 34.1%, used cars and trucks increased 7.1%, new vehicles increased by 11.4%, tobacco and smoking products increased by 7.9%, and apparel increased by 5.2%.
- The Right Facts will continue to monitor inflation.