Consumer Price Index: Inflation Up 0.4% in June 2019

According to the the latest Consumer Price Index (CPI), local consumers paid 0.7 percent more in June 2019 than they did for the same basket of goods and services a year ago, with a 0.4 percentage point increase on the level of inflation, up from the 0.3 percent measured in May 2019.

“Between May 2019 and June 2019, the average cost of goods and services in the CPI increased 0.3 percent. The all-items index was 105.7 in June.”

In dollars and cents that translates into $105.70 for the same basket of goods and services that cost $100 in April 2015.

“The Health & Personal Care sector was the largest contributor to the year-over-year change, increasing 3.7 percent,” according to the report.

“The average cost of health insurance premiums continues to be a major contributor to the annual increase.

“In addition, the Food and Tobacco & Liquor sectors also contributed to the rise in the annual rate of inflation, as price shifts in these sectors were 2.5% and 4.5%, respectively.”