Honolulu's inflation rate has slowed over the past year, although prices for certain goods continue to rise.
A new report from the U.S. Bureau of Labor Statistics shows the average cost of goods in the city rose by 2% in the past year.
As of March, the rolling inflation rate on Oʻahu fell to 3.3%. That's a drop from 5.2% in January.
Between March and May of this year, the average cost of goods increased by more than a quarter of a percent. That increase was caused by higher prices for food and shelter.
Food consistently drove the increases in costs. Economists found that food prices in Honolulu rose 1.6% between March and May.
The price of groceries grew by nearly 2% over the last year.
Housing prices have also increased by almost 1% over the past year.
But local energy costs declined year-over-year during the report's two-month snapshot, largely due to lower gas and electricity prices.
Nationally, the CPI rose 4% over the past year, primarily driven by rising costs for food, housing and vehicles.
