U.S. Consumer Price Index jumped in June, something that was apparently unexpected by several economists.
The Labor Department released data showing a 0.1% increase in the Consumer Price Index in June, the same as in May. Economists polled by FactSet had forecast no increase in the price index for June.
The ‘core’ Consumer Price Index, i.e. excluding food and energy, rose 0.3% in June - the largest increase since January 2018. In May, the core index rose 0.1%. Economists had anticipated an increase of 0.2% in the core measure for June. On a year-over-year basis, the core index rose 2.1%.