Electricity prices drive up CPI

CINCINNATI The Midwest Consumer Price Index rose 0.3 percent in June, thanks to increased costs for household fuels and utilities, particularly electricity.

Housing costs rose 0.8 percent, after rising 0.3 percent in May.

Household fuels and utilities were up 3.6 percent in June, with electricity prices jumping 12.6 percent, and natural gas costs falling 5.3 percent. Electricity prices generally rise in June as utilities switch to summer rate schedules that take increased demand into account.

Apparel prices continued falling, down 3.6 percent in June. Prices fell 1.3 percent in May.

Transportation prices were up 0.3 percent in June, in tune with the price of motor fuel, which rose only 0.3 percent. That was the smallest monthly jump since September 1995, although motor fuel prices have gone up 33.4 percent since June 2005.

Food and beverage prices were up 0.2 percent, compared to a 0.3 percent increase in May.

Medical care costs fell 0.1 percent, thanks to a 0.1 percent decrease in medical care services prices. Medical care commodities prices were unchanged, compared with May.

Recreation prices, including prices for sporting goods, toys and events tickets, fell 0.2 percent in June.

Education and communications prices were up 0.2 percent. Other goods prices, including tobacco and personal care products, rose 0.5 percent in June.

The Midwest Consumer Price Index is compiled by the Bureau of Labor Statistics, part of the U.S. Department of Labor. For more information, see www.bls.gov/ro5

Cincinnati Business Journal