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U.S. Consumer Prices Increased in June by More Than Forecast

Published 07/13/2021, 08:32 AM
Updated 07/13/2021, 08:36 AM
© Reuters. U.S. Consumer Prices Increased in June by More Than Forecast

(Bloomberg) -- Prices paid by U.S. consumers increased in June by more than expected as higher commodity and labor costs associated with the economy’s reopening continued to fuel inflationary pressures.

The consumer price index jumped 0.9% in June and 5.4% from the same month last year, according to Labor Department data released Tuesday. Excluding the volatile food and energy components, the so-called core CPI also rose 0.9%, and increased 4.5% from June 2020.

Used vehicles accounted for one third of the gain in the CPI last month, the agency said.

The median forecasts in a Bloomberg survey of economists called for a 0.5% gain in the overall CPI from the prior month and a 4.9% year-over-year increase.

 

 

Latest comments

Yes, fed know what they are doing(keep pumping) ....lol....they always take action after the wheels fall off NOT before, not any different this time
all change is transitory, question is how long it will take to get to the next transitory change
this inflation is only "transitory!" 🤣
How can the Dollar strengthen? Because its Transitory?
Because it will force the fed to raise intrest rates, which in turn is bullish for the dollar
 At his point they would have to raise rates to 9% to get a net positive real rate. Ain't happening.
Highly-paid so-called analysts and their forecast??? I asked WC cleaner and got the exact data.
Here comes a red day
For the stock market?
No worries. all coming stock loses will be erased by tomorrow. Inflation is baked in right? What a farce these markets are. Plus they hammer PMs to discourage investing in real money. Its all about the phony paper game
"consumer prices increase A LOT" you meant to say?
it's ok guys, this inflation is only transitory, expect cpi to return to normal soon, maybe in 2 or 3 months... or years... give or take
LOL inflation alone isn't gonna crush the stock markets... let's hope for the best
 the stock bubble rages on even during hypeinflation events. See: Brazil, Zimbabwe, Argentina, Weimar Republic, etc. Too soon to call this a HI event, but the Fed is locked into negative real rates and massive QE because as soon as they tighten the economy will collapse.
60 pct increase in companies profit has to come from somewhere and has to do something
Huge housing crash coming soon
the word "soon" doesnt mean anything in investnent terms... long-term investors wont be significantly affected by that!!
yes they will.
why is stuff in red territory?
You don't belong investing if you don't know and have to ask that question.
oh... so you can predict which positive events and negative events offset each other and dictate market tendencies? wow. you must be a gifted financial guru then. They should gather a crowd around you so they can applaud you.
well your giving money away so this is expected 🙄
Spin this one Jpowell
even the doctored core version is up
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