Monthly Update: Inflation

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INFLATION-NATIONWIDE

The cost of consumer goods and services as measured by the Consumer Price Index for All Urban Consumers (CPI-U) rose 1.6 percent nationwide from June ’18 to June ’19, according to the U.S. Bureau of Labor Statistics. Core inflation (all items less the volatile food and energy categories) increased 2.1 percent since June '18 [1].

The cost of energy declined 3.4 percent from the previous June. Motor fuel prices fell 5.4 percent, while electricity prices ticked down 0.3 percent. The cost of natural gas prices decreased 2.1 percent. The shelter index rose 3.5 percent from June ’18. Food prices went up 1.9 percent, with the cost of dining out increasing 3.1 percent. Grocery prices increased 0.9 percent.

INFLATION-HOUSTON 

Consumer prices in the Houston-The Woodlands-Sugar Land metro area [2] increased 0.8 percent from June ’18 to June ’19.

In the 12 months ending June ’19, the energy index decreased 5.3 percent, largely due to a 10.1 percent decline in motor fuel costs. Electricity prices rose 1.1 percent, and natural gas prices grew 0.7 percent.

Food prices rose 2.8 percent during the previous 12 months, its fastest 12-month rate of gain since April ’15. The cost of dining out grew 2.1 percent while grocery prices went up 3.6 percent. The cost of shelter rose 3.1 percent. 

[1] CPI data in this commentary are not seasonally adjusted. 
[2] Austin, Brazoria, Chambers, Fort Bend, Galveston, Harris, Liberty, Montgomery and Waller Counties.

Patrick Jankowski, CERP
Senior Vice President, Research
713-844-3616
pjankowski@houston.org

Elizabeth Balderrama, PCED
Manager, Research
713-844-3615
ebalderrama@houston.org