Midwest CPI flat for second straight month

The Midwest Consumer Price Index edged down by just 0.1 percent for the second month in a row, according to a news release from the U.S. Bureau of Labor Statistics.

The Midwest CPI was 219.08 in June, compared to 219.15 in May, when the index also dropped 0.1 percent.

The CPI - which shows price changes for energy, food and all other items - is measured in comparison to a base period of 1982-84. A typical market basket of goods and services that cost $100 in 1982-84 cost $219.08 in June. The index is not seasonally adjusted, and items are weighted depending on their spending importance in certain areas.

With a 4.4 percent decline in motor fuel prices, energy costs had the largest impact on the monthly index. The index was offset by a 6.6 percent increase in costs for electricity and a 2.6 percent rise in piped gas services, the release said.

Food prices were stagnant in June. Costs for food at home didn't change from May, and costs for food away from home dropped 0.2 percent during the month after seven consecutive months of increases.

Under the index for all other items, shelter prices rose 0.2 percent, sales for used cars and trucks increased 1.2 percent and recreation grew by 0.3 percent. Offsetting the increases was a 2.1 percent seasonal decline in apparel prices, according to the release.

Compared to June 2011, the index last month was up 1.4 percent.