Consumer Price Index: Inflation Dropped 0.3%
Consumers paid 0.8% more in June 2016 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI]. The level of inflation dropped 0.3 percentage points from the 1.1% measured in May 2016.
The Consumer Price Index report said, “Between May 2016 and June 2016, the average cost of goods and services in the CPI increased by 0.5%. The all-items index rose to 101.5 in June. This means that the basket of goods and services that cost $100.00 in April 2015 now costs $101.50.
“The Fuel & Power sector continued trending downwards, falling 3.1% year-over-year. However, the decrease was softened by a 21.1% increase in the facilities charge.
“In addition, the Transport & Foreign Travel sector also had a big impact in the lower inflation rate, as it decreased 7.1% year-over-year.”
The full June 2016 Consumer Price Index follows below [PDF here]:
