Report: June consumer prices rise 1.7 percent compared to June 2018
Consumer prices in the metropolitan area rose modestly in June compared with a year earlier, on higher housing costs.
The federal Bureau of Labor Statistics said Thursday its consumer price index for the 25-county region that includes Long Island climbed 1.7 percent last month compared with June 2018.
The year-over-year increase was the largest since November’s 1.9 percent.
Last month, residential rents climbed 3.4 percent compared with June 2018, according to Martin Kohli, the bureau's chief regional economist.
The cost of groceries was up 1.3 percent, year over year.
Medical care prices rose 5.2 percent in June, while clothing prices were up 0.4 percent.
These increases were partially offset by a decline in the cost of gasoline, which fell 5 percent, year over year. Electricity and natural gas prices also were down, 2.6 percent and 3.9 percent, respectively.
James T. Madore writes about Long Island business news including the economy, development, and the relationship between government and business. He previously served as Albany bureau chief.
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