The BLS released the June CPI figures about an hour ago. The CPI-W increased to 222.686 in July from 222.522 in June, an increase of 0.07%. If the CPI-W averages this amount for July through September, it would generate a 2012 COLA of about 3.34%, under current law, which, by the way wasn’t touched during the debt ceiling debacle. I think the CPI-W will continue to increase in August and September, though. The price of gasoline has gone up today for the first time since August 3, and I anticipate that it will continue to increase due to the slow but steady increase in crude oil. Food is also increasing, and has been pretty steadily.
Full report later.