Honolulu residents are getting some relief on the inflation front, with the Consumer Price Index rising by a modest 0.3 percent in the first half of the year.

The Bureau of Labor Statistics today reported falling gasoline prices contributed to a significant 11 percent drop in the transportation component of the index, though there were gains in housing, food and beverages, medical care, apparel and education.
The small increase compared to the index midway through 2008 shows inflation is continuing to moderate in Honolulu after reaching a 15-year high of 5.9 percent in 2006. A year ago, consumers were having to shell out more for gasoline, which was on its way to record high prices.
The Bureau of Labor Statistics said the decline in transportation costs were driven downward by gasoline prices that were nearly one-third less than a year earlier.
It reported the housing price index rose by 0.8 percent as rents continued to increase over the past year.
Food and beverage prices rose 5.8 percent, led by a jump in restaurant prices.
The bureau also reported clothing prices rose 8 percent and that education and communication costs advanced by 5 percent.
Prices for recreational activities were unchanged.