Consumer Price Index, June 2023

The Consumer Price Index (CPI) rose 2.8% year over year in June, following a 3.4% increase in May. While deceleration was fairly broad-based, another base-year effect in gasoline prices led the slowdown in the CPI. Excluding gasoline, headline inflation would have been 4.0% in June, following a 4.4% increase in May.

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