Energy and transportation saw the biggest swings
Prices of closely-watched goods and services didn't go up much in the first half of this year, which may further ease concerns about inflation.
The prices of all items tracked in the Consumer Price Index, the federal government's bellwether signalof inflation, rose 1.9% from January to June, coming slightlybelow the 2% increase seen over the same period last year.
But some goods and services stood out, especially in energy and transportation. Twenty of 26core goods and services saw their prices rise, which isn't unusual since costs tend to go up in a growing economy.
The five biggest price increases were in gasoline, motor fuel, airlane fares, motor vehicle insurance and transportation services. Fuel oil and piped utility gas were the most notable declines.
Gasoline prices usually peak around July, unless something shocks the global oil market, AAAtold ConsumerAffairs in February.
Below, see ConsumerAffairs's chart rankingand grouping themost-followed goods and services from the CPI by their increases and decreases.
Photo Credit: Consumer Affairs News Department Images
Posted: 2024-07-22 10:55:53
