The consumer price index for June was expected to rise 8.8% from a year ago, according to Dow Jones estimates.
Shoppers paid sharply higher prices for a variety of goods in June as inflation kept its hold on a slowing U.S. economy, the Bureau of Labor Statistics reported Wednesday.
The consumer price index, a broad measure of everyday goods and services, soared 9.1% from a year ago, above the 8.8% Dow Jones estimate. That marked another month of the fastest pace for inflation going back to December 1981.
Excluding volatile food and energy prices, so-called core CPI increased 5.9%, compared to the 5.5% estimate.
On a monthly basis, headline CPI rose 1.3% and core CPI was up 0.7%, compared to respective estimates of 1.1% and 0.5%.
Submitted July 13, 2022 at 08:34AM by AptitudeSky https://ift.tt/sVKRGlc
