Biggest rise in US inflation in 13 years

Consumer prices in the US rose 0.9 percent in June, the largest increase in the last 13 years.

Consumer prices in the US increased by 0.9 percent compared to the previous month in June, the highest increase in the last 13 years as the economic recovery accelerated and the prices of travel-related services rose from the low levels in the pandemic. Economists surveyed by Reuters had predicted consumer prices would rise 0.5 percent. Consumer prices last increased by 0.9 percent in June 2008.

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The US Department of Labor announced the CPI at 0.6 percent in May. Core consumer prices, which do not reflect the volatility of food and energy prices, increased by 0.9 percent in June, above expectations. Economists polled by Reuters had forecast core consumer prices to rise 0.4 percent. Core inflation was 0.7 percent in May.

Looking at the change on an annual basis, consumer prices increased by 5.4 percent in June, above the expectations. Consumer prices rose 5 percent year-on-year in May. Core inflation increased by 4.5 percent in June compared to the same month of the previous year, above expectations. Core inflation was announced at 3.8 percent in May.


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Source: bigpara- GÜNDEM by bigpara.hurriyet.com.tr.

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