Inflation ticks up slightly in June
In June, inflation rose 1.9 percent on a year-over-year basis, up from a 1.7 percent increase in May.
Headline inflation grew at a faster pace, as gasoline prices fell to a lesser extent in June than in May. Additionally, faster price growth for some durable goods, such as passenger vehicles and furniture, put upward pressure on the inflation in June.
While consumers continued to pay less at the pump on a year-over-year basis in June, the decline was smaller than in May.
Prices for food purchased from stores rose 2.8 percent year over year.
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