Data released just moments ago by the U.S. Bureau of Labor Statistics showed that the Consumer Price Index (CPI), a measure of inflation, rose 0.3% in June after rising by about 0.1% in May, matching expectations. The core CPI, which excludes food and energy prices, rose 0.2%, compared to 0.1% in May, while expectations were for a 0.3% increase.
Conversely, the annual CPI rose to 2.7% over the past 12 months, up from 2.4% in May, exceeding expectations of 2.6%. The core CPI rose to 2.9% from 2.8%. In the details of the index, the housing index recorded a rise of 0.2% in June, which was the most prominent factor in the rise in inflation in June, while it rose by 3.8% on an annual basis. The food index rose by 3% from 2.9% in May on an annual basis, and recorded an increase of about 0.3% in June. The energy index declined by 0.8% in June on an annual basis, after a decline of about 3.5%, and an increase of about 0.9% on a monthly basis in June.