WASHINGTON (July 16, 2013)—The consumer price index, a measure of U.S. consumer prices, rose in June, pushed higher by a jump in prices at the pump, but the overall trend in inflation stayed tame, the U.S. Labor Department said Tuesday.
The Labor Department said the consumer price index increased 0.5 percent in June from May, but two-thirds of the increase came from a 6.3 percent jump in gas prices, the largest since February.
Excluding volatile food and energy costs, so-called core prices rose just 0.2 percent.
Consumer prices have risen just 1.8 percent over the past 12 months, and core prices are up just 1.6 percent in that period, the smallest 12-month change in two years
Low inflation has given the Federal Reserve room to keep interest rates low in an effort to boost the economy.