Cheap gas keeps metro area price increases in check
Consumer prices in the metropolitan area rose slightly last month compared with a year ago as another drop in the cost of gasoline offset higher residential rents. Credit: Newsday / Thomas A. Ferrara
Consumer prices in the metropolitan area rose slightly last month compared with a year ago as another drop in the cost of gasoline offset higher residential rents.
The federal Bureau of Labor Statistics Friday reported its consumer price index for the 31-county region that includes Long Island climbed 0.1 percent in June compared with a year earlier.
Since February, year-over-year changes in the index have ranged from -0.1 percent to 0.1 percent, said Martin Kohli, the bureau's chief regional economist.
In June, gasoline prices dropped 25.2 percent compared with a year ago. The cost of electricity and natural gas were off 2.2 percent and 13.7 percent, respectively.
Residential rents were up 2.8 percent, year over year.
The cost of groceries rose 1.3 percent.
Clothing and medical care increased 2.5 percent and 1.3 percent, respectively, from June 2014.
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Out East Show: Visit The Shamrock evergreen maze, Sannino Vineyard, Seven Ponds Orchard and the Warrior Ranch Foundation NewsdayTV's Doug Geed is heading 'Out East' to showcase the ultimate local spots you need to explore.
