For the third straight month, the US Consumer Price Index (CPI) fell, declining 0.1 percent in June. Lower energy and food costs contributed to the loss. However, when removing volatile energy and food to look at the “core” items, CPI actually increased by 0.2 percent.
Year-to-date, core CPI has increased just 0.9 percent which is considerably lower that the Federal Reserves inflation target of 2 percent.
Source: Associated Press