by Valorie Hanni Rice
Senior Specialist, Business Information
The Consumer Price Index rose 0.3% in June, according to the Bureau of Labor Statistics July 18 release. Most categories had price increases over the month. The annual inflation rate rose only 0.1% in June.
Arizona’s year-over-year job growth was 2.1% in June, matching that of the U.S. The private sector accounted for all employment gains over the year, as government shed jobs in that time period. Other industries that lost jobs were manufacturing and natural resources & mining, while professional and business services and education and health services were the two industries gaining the most jobs. The unemployment rate in Arizona ticked up 0.1% in June to 5.9%.
Producer prices were 0.4% higher in June on a seasonally adjusted basis. Final demand goods were up 0.7% over the month while final demand services increased 0.3%. While producer prices increased for a second month in a row, they were still lower than a year ago, with the unadjusted 12-month change at a negative 0.7%.
Hands and calculator photo courtesy Shutterstock.