Prices in Chicago area dip in June
BY FRANCINE KNOWLES Business Reporter email@example.com July 17, 2012 8:44AM
Updated: July 17, 2012 12:52PM
Consumer prices in the Chicago metropolitan area dipped 0.1 percent in June from May as gas prices sank and food prices edged up, the Labor Department revealed Tuesday.
Prices edged up 0.9 percent since June 2011.
Excluding food and energy, prices rose 0.2 percent since May and 1.6 percent since June 2011.
Overall energy costs fell 3.3 percent since May. Gas prices dropped 6.5 percent, and electricity costs were down 3.2 percent. The price of utility piped gas jumped 12.5 percent, but plunged 23.2 percent from June 2011. Gas prices dropped 6.1 percent year-over-year, and electricity costs fell 3.3 percent, helping push overall energy costs down 8.4 percent.
Food prices climbed 0.5 percent since May. The cost of eating out rose 0.4 percent, while the cost of eating in rose 0.5 percent. Prices rose for tomatoes, apples, processed fish and seafood. Prices were lower for bacon, breakfast sausage, cheese and related products. Year-over-year, food prices rose 2.9 percent.
Nationally, consumer prices were unchanged in June from May and rose 1.7 percent since June 2011.