CPI, June and Inflation
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The Consumer Price Index in June rose 2.7% on an annual basis, a sign inflation around the U.S. is creeping up after declining earlier this year.By the numbersThe CPI was forecast to rise 2.7% last month,
Dow falls 300 points, S&P 500 flat and Nasdaq climbs after June CPI report; JPMorgan tops estimates Investors are digesting important inflation data in the U.S
Consumer prices in the New York area, including Long Island, rose at a faster pace in June than in May, driven in part by higher costs for child care, housing and groceries, such as meat and eggs.
CPI data shows headline and core inflation in line with expectations. Check out my thoughts on financial markets' reaction to CPI data.
The CPI rose 0.3% month-over-month in June, accelerating from May’s 0.1% pace. Year-over-year inflation also jumped to 2.7%, up from 2.4% in May. Core CPI, which excludes food and energy, rose 0.2% in June and came in at 2.9% annually — signs that underlying inflationary pressure remains sticky.
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