Consumer Prices Rise 3.2% in June, Marking Largest Increase in 30 Months Due to Surging Oil Prices

[Economy 365]

Consumer prices rose 3.2% last month compared to a year ago, marking the largest increase since December 2023.

The inflation rate for this year has remained in the 3% range for two consecutive months, following 2.2% in March, 2.6% in April, and 3.1% in May.

As international oil prices climbed in the wake of the Middle East conflict, petroleum prices surged by 24.7%, driving up overall inflation.

The rise in petroleum prices had the effect of pushing up the overall consumer price index by 0.93 percentage points.

Prices for gasoline, diesel, and kerosene also saw significant increases, while industrial product prices rose by 4.4%, further contributing to the overall inflation trend.

Prices for daily necessities also rose by 3.4%, showing the largest increase in 2 years and 2 months.

However, the fresh food index, which reflects the cost of basic groceries, rose by 0.4%.

*This article was produced with AI audio.
※ Please note: This article was translated by AI and may contain errors.