CPI stands at 3% in June

The Consumer Price Index (CPI) stood at 3% in June, according to data released by the Bureau of Labor Statistics (BLS). The figure marked a 0.3% drop from May, when it stood at 3.3%:

"The all items index rose 3.0 percent for the 12 months ending June, a smaller increase than the 3.3- percent increase for the 12 months ending May," the report read.

According to the BLS, the index for all items excluding food and energy rose 0.1% in June, after rising 0.2% the previous month. The indexes that rose the most in June "include shelter, motor vehicle insurance, household furnishings and operations, medical care, and personal care.

Food and energy on the rise

The food away from home index rose 0.4% over the month, while food at home increased 0.1%. The energy index rose 1.0% in the 12 months ending June. The food index overall increased 2.2% over the past year.

The auto insurance index increased 0.9% in June following a 0.1% decline in May. The home furnishings and equipment index was up 0.5% for the month. "The indexes for personal care, education, recreation, and apparel also increased in June," the report concluded.