Gas, housing prices push Seattle inflation rate up in June
Inflation rate for Seattle area 2 percent higher from previous year.
Seattle Times business reporter
Gas and housing prices propelled Seattle’s inflation growth in May and June, as consumer prices rose 2 percent from the previous year, according to data released Tuesday by the U.S. Bureau of Labor Statistics.
Since April, the Seattle-area Consumer Price Index, which is measured every two months and is not seasonally adjusted, rose by 0.4 percent. That’s a return to the slower rate of increase that prices had seen before a 1.6 percent bimonthly jump in March and April.
Energy prices in May and June were up 3 percent compared with the previous year, and the cost of housing rose 5.1 percent.
Seattleites paid, on average, $3.92 for a gallon of gasoline in May, which was 4.7 percent higher than the national average, and 3.6 percent higher than in 2013. Over the last two months the energy index increased 2.2 percent. Electricity and natural-gas prices actually went down since April, but gasoline prices rose 4.8 percent.
Food prices grew 2.2 percent compared with a year ago but were down 0.7 percent from April to June.
Over the year, some prices have gone down. According to the report, Seattle-area recreation prices dropped by 2.4 percent and clothing is 0.4 percent less costly than in mid-2013.
In June, the national inflation rate rose 2.1 percent over the year and 0.2 percent since May.
Brandon Brown: 206-464-2164 or email@example.com