U.S. housing starts and building permits rose more than forecast in June, while consumer prices came in line with median projections.
Housing starts climbed to 1.17 million in June from an upwardly revised 1.07 million, surpassing analysts’ forecasts of 1.10 million.
Building permits for the same month edged up to 1.34 million from a downwardly revised 1.25 million. Analysts had estimated a retreat to 1.11 million.
The consumer price index (CPI) soared 0.3 percent from May, following a 0.4 percent advance a month earlier.
Core CPI showed a 0.2 percent rise, in line with expectations, from a 0.1 percent increase.
As of 14:41 GMT, the dollar index gained to set a high of 97.92, compared to the session’s opening at 97.65.
The Fed is on track to raise interest rates this year as long as the economy is showing progress, Fed Chairwoman Janet Yellen said this week.