By
updated 7/19/2013 2:45:17 AM ET 2013-07-19T06:45:17

Gasoline prices in June rose by their highest rate in four months, fueling an overall rise in U.S. consumer prices.

The Labor Department said Tuesday the Consumer Price Index rose 0.5 percent, which was the largest increase since February. The CPI had risen just 0.1 percent in May.

Blame prices at the pump. Gasoline prices accounted for about two-thirds of the increase in the CPI and also jumped at the highest rate since February.

The overall rise in CPI was well ahead of what economists predicted.

Still, the jump isn't stoking fears of inflation yet. In the 12-month period through the end of last month, consumer prices are up 1.8 percent. A month earlier, the overall rise was 1.4 percent. Both are still under the Federal Reserve's target of 2 percent.

In addition to gasoline, prices rose in health care, new car sales, clothing and furniture.

Related: Modest Rise in Retail Sales Could Signal Slowdown in U.S. Economy

Copyright © 2013 Entrepreneur.com, Inc.

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 4.40%
$30K home equity loan FICO 5.80%
$75K home equity loan FICO 4.54%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.70%
13.70%
Cash Back Cards 17.66%
17.91%
Rewards Cards 17.05%
17.17%
Source: Bankrate.com