Inflation cooled to 3.5% in June year over year, after surpassing 4% in May for the first time in three years, based on the latest U.S. Bureau of Labor Statistics report. The apparent easing was a result of a decrease in the energy index, which includes gasoline and fuel oil.
Gasoline fell 9.7% from the previous month, while fuel oil decreased by 9.2%. Both indices remain high, however, even as the month-over-month comparisons showed a decrease, with gasoline up 26.7% from the previous year and fuel oil at 42.9%.
Shelter, which includes rent, household insurance and lodging away from home, rose 3.3% year over year in June. Food was up 3% compared to the same time last year. Airline fares still cost more in June, up by 26.5% compared to the previous year.
Other categories that increased over the month included haircuts, personal care services and household furnishings. However, not everything went up. Other categories that decreased over the month included prescription drugs, apparel, motor vehicle insurance and used cars and trucks.
Original reporting: WPBF (Treasure Coast / Hearst) — read the source article.
