The BLS released the CPI inflation report for June and it came in at a scorching 9.1 percent!
The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.3 percent in June on a seasonally adjusted basis after rising 1.0 percent in May, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 9.1 percent before seasonal adjustment. The increase was broad-based, with the indexes for gasoline, shelter, and food being the largest contributors. The energy index rose 7.5 percent over the month and contributed nearly half of the all items increase, with the gasoline index rising 11.2 percent and the other major component indexes also rising. The food index rose 1.0 percent in June, as did the food at home index.
While the number is shocking, the fact that we’ve been monitoring high inflation in all of the United States trading partners for the past few months, it’s not really unexpected.
We’ll update the top trading partner inflation chart for June as soon as all the data come in but we suspect it will be trending higher.
With inflation so high, what’s an investor to do? The best approach is defensive and dividend value stocks to help increase income flows. We recently posted our portfolio so now is a time to take a look at how we’re sailing through these rough inflation seas.
In the meantime, stay tuned and stay solvent…