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2.7% Inflation for the month of June

Intelligent Economics > Analysis > 2.7% Inflation for the month of June

The consumer price index for June 2021 in Puerto Rico stood at 121.38. Compared to June 2020, the consumer price index rose by 2.7%. This large year over year increase is mostly due to deflation seen in 2020 due to the COVID-19 pandemic. Decreases in demand for many goods and services during the pandemic led to decreases in prices. What we are currently witnessing is a bounce back in prices and temporary inflation due to supply chain shocks. The IMF has published that this inflation that has been seen at a world-wide level could be due to supply chain issues, and a level of normalization is expected.

The 3 subcategories with the largest year over year increases were fuel for vehicles, public transportation, and lodging away from home. They had year over year increases of 36.7%, 17%, and 15.2%, respectively. This large increase in fuel prices was due to oil prices decreasing dramatically last summer. As prices have gone back to pre-pandemic levels, a large relative increase is seen. The 3 subcategories with the largest year over year decreases were eggs, fresh vegetables, and girl’s clothing. They had decreases of 4%, 2.6%, and 2.6%, respectively.

The 3 subcategories with the largest month over month increases were pork, public transport, and poultry. They had increases of 5.5%, 5%, and 3.3%, respectively. The 3 subcategories with the largest month over month decreases were fresh fruit, information services, and materials for coffee and tea. They had month over month decreases of 3%, 1.8%, and 0.9%, respectively.

Food and Beverage had an increase of 1.1%. The largest increase was in fats, oils, and dressings, which increased by 4.2%.

Housing increased by 1%. The largest increase was in lodging away from home, which went up by 15.2%.

Apparel increased by 1.4%. The largest increase was in footwear, which went up by 6.8%.

Transportation increased by 8.5%. The largest increase was in motor fuel, which went up by 36.7%.

Medical care increased by 0.5%. The largest increase was in medical care commodities, which went up by 0.6%.

 

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