The Labor Department announced on Thursday the U.S. consumer price index (CPI) edged up 0.1 percent m-o-m in June, the same pace as in the previous month.

Over the last 12 months, the CPI rose 1.6 percent y-o-y last month, following a 1.8 percent m-o-m advance in the 12 months through May. It was the lowest rate since February.

Economists had forecast the CPI to increase 0.2 percent m-o-m and 1.6 percent y-o-y in the 12-month period.

According to the report, gains in the indexes for shelter, apparel, and used cars and trucks more than offset declines in energy indexes, while the food index was unchanged m-o-m.

Meanwhile, the core CPI excluding volatile food and fuel costs rose 0.3 percent m-o-m in June, following a 0.1 percent m-o-m uptick in the previous month. This represented the largest monthly increase in core CPI since January 2018.

In the 12 months through June, the core CPI rose 2.1 percent after a 2.0 percent increase for the 12 months ending May.

Economists had forecast the core CPI to rise 0.2 percent m-o-m and 2.0 percent y-o-y last month.