Inflation Increases To 9.1% Compared To 12 Months Ago

Inflation hit 9.1 percent in June 2022
(photo: Unsplash/Yassine Khalfalli)

The Bureau of Labor Statistics reported Wednesday that the consumer price index increased 9.1% from a year ago in June, above the 8.8% Dow Jones estimate..

Food and energy prices were leading contributors to the high inflation rate.

The energy index rose 7.5 percent over the month and contributed nearly half of the all items increase, with the gasoline index rising 11.2 percent.

The food index rose 1.0 percent in June, as did the food at home index.

The all items less food and energy index rose 5.9 percent over the last 12 months.

Among the few major component indexes to decline in June were lodging away from home and airline fares.

Read the full report here.