On: CPI for all items rises 0.2% in June; shelter up

[MR4D]

MoM numbers can be bumpy and bounce around a bit every month regardless. YoY numbers smooth out that bumpiness.

It's very possible that next month we see numbers go up, which would make this report an outlier, and the YoY numbers more accurate.

If you look at the Energy row, you can see this month over month variation is quite high.