Inflation Moderates
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WASHINGTON (AP) – Food costs went up again but consumers finally got a break at the gas pumps in June, helping to lower inflation to the smallest increase in five months.
The Labor Department reported Wednesday that the Consumer Price Index edged up a virtually minuscule 0.2 percent in June following a 0.7 percent surge in May, which had been the biggest jump in 20 months.
The price moderation reflected a 1.1 percent decline in gasoline prices, which pushed total energy costs down by 0.5 percent, offsetting a 0.5 percent rise in food costs.
