Consumer prices in US rise for 5th month
Print Edition
US consumer prices rose for a fifth straight month in June as the cost of gasoline and a range of other goods increased, further signs of firming inflation that strengthen the case for an interest rate hike this year.
The Labor Department said yesterday its Consumer Price Index rose 0.3 percent last month after increasing 0.4 percent in May. Last month’s increase pushed the year-on-year CPI rate into positive territory for the first time since December.
The energy-driven disinflationary trend appears to have run its course. A report on Wednesday showed producer prices rose in June for a second straight month.
Firming price pressures, together with a tightening labor market and strengthening housing could give the Fed confidence that inflation will gradually rise toward its 2 percent target.
Fed Chair Janet Yellen this week affirmed the US central bank was keen to start tightening monetary policy later this year after keeping its short-term interest rate near zero for more than six years.
In the 12 months through June, the CPI edged up 0.1 percent after being unchanged in May. Economists polled by Reuters had forecast the CPI rising 0.3 percent from May and gaining 0.1 percent from a year ago.
The so-called core CPI, which strips out food and energy costs, increased 0.2 percent last month after rising 0.1 percent in May. Underlying inflation pressures have been tamed by a strong dollar.
In the 12 months through June, the core CPI rose 1.8 percent after May’s 1.7 percent increase.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
