Why were prices rising in Jun 2023?

As of June 2023, the Basket Index for a US family of 4 sits at 122.1 — meaning the cost of a standard household basket has risen 0.9% versus a year ago and is up 0.55% from the previous month.

Most of the move comes from rent of primary residence, electricity (residential), bread (white loaf) and chicken (whole, fresh). Together these items account for roughly 207% of the year-over-year basket cost change.

Offsetting the increases: gasoline (regular unleaded) (-27.6%), eggs (grade a, large) (-18.0%), milk (whole, fortified) (-4.0%) are cheaper than a year ago.

Inflation is rarely caused by one thing. Energy prices feed into food production and shipping; rent moves with housing supply and interest rates; and grocery prices respond to supply shocks, weather, and demand patterns. Basket Index does not claim causality — it tracks the prices households actually face, and lets you see which categories are pulling the basket up.

• Rent of Primary Residence: +8.3% YoY, ~140% of basket move.
• Electricity (Residential): +6.3% YoY, ~50% of basket move.
• Bread (White Loaf): +14.5% YoY, ~9% of basket move.