FILE - In this June 8, 2020 file photo, a shopper departs a shoe store at CambridgeSide mall, in Cambridge, Mass. U.S. consumer prices dropped in May for the third straight month as the coronavirus pandemic pushed the American economy into a recession. The Labor Department said Wednesday, June 10 that its consumer price index fell 0.1% last month after tumbling 0.8% in April and 0.4% in March. (AP Photo/Steven Senne, File)

US consumer prices rise 0.6% in June

July 14, 2020 - 8:44 am

WASHINGTON (AP) — U.S. consumer prices increased 0.6% in June, after three months of declines, with a big jump in gasoline prices accounting for over half of the gain.

The Labor Department reported Tuesday that ithe increase in ts consumer price index followed declines of 0.4% in March, 0.8% in April and 0.1% in May as the hit to demand caused by the widespread shutdowns of the economy kept a lid on prices.

The June report showed that energy prices jumped 5.1% with gasoline costs surging 12.3%. However, even with that gain gasoline pump prices are 23.4% below where they were a year ago.

Core inflation, which exlcudes food and energy, rose a more modest 0.2% in June.

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