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Inflation, as measured by the Consumer Price Index for all Urban Consumers (CPI-U), was flat last month and rose 3.0 percent nationwide in the 12 months ending June ’24. Core inflation, which excludes the volatile food and energy categories, rose 0.1 percent from last month and 3.3 percent over the year. (Note: The CPI numbers reported here are not seasonally adjusted.)

The Bureau of Labor Statistics (BLS) publishes Houston-specific inflation data for the months of February, April, June, August, October, and December. From June ’23 to June ’24, Houston’s inflation rate was 2.1 percent. From April ’24 to June ’24, local prices slipped on average 0.3 percent.
 
Since June of last year, Houstonians have seen significant increases (i.e., 3.5 percent or more) in the cost of fruits and vegetables, dining out, electricity, and apparel. The cost of transportation services and alcoholic beverages rose moderately. The cost of household furnishings, gasoline, new and used vehicles, medical care, and miscellaneous goods and services fell.

The next release of national CPI data will be on Wednesday, August 14, 2024. The next release of Houston CPI data will be on Wednesday, September 11, 2024.

Prepared by Greater Houston Partnership Research

Patrick Jankowski, CERP
Chief Economist
Senior Vice President, Research
pjankowski@houston.org

Leta Wauson
Research Director
lwauson@houston.org