June CPI inflation report: Largest price increases include gas, butter and flour

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Inflation hit another record high last month.  There are some signs that inflation is abating, but you’ll have to squint to see them. 

There were some obvious culprits to last month’s 1.3% rise in inflation that put the annual rate of inflation in the U.S. at 9.1%. For instance, gas prices, which rose by 11.2%, accounted for nearly 40% of the overall price level increase. And housing, which rose by 0.8%, accounted for 26% of the overall increase.

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