Consumer Price Index, June and Inflation
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Inflation accelerated in June as President Trump’s tariffs started to leave a bigger imprint on the economy, keeping the Federal Reserve on track to hold interest rates steady when policymakers next meet this month.
The Bureau of Labor Statistics reported that the consumer price index (CPI), a popular inflation gauge, increased in June to 2.7% on an annual basis as prices rose for consumers.
Thursday’s retail sales data suggests that consumers aren’t yet balking at the higher prices, and reflect what big banks, economists, analysts, and retailers have said to describe the current consumer mind-set: Americans are cautious, but resilient.
The report on producer prices adds to a mixed picture for inflation as the economy adjusts to the imposition of import tariffs.
Consumer prices in the New York area, including Long Island, rose at a faster pace in June than in May, driven in part by higher costs for child care, housing and groceries, such as meat and eggs.
The Producer Price Index (PPI) for final demand was flat in June, following a 0.3% rise in May and a 0.3% drop in April. A 0.3% increase in goo
The Consumer Price Index in June rose 2.7% on an annual basis, a sign inflation around the U.S. is creeping up after declining earlier this year.By the numbersThe CPI was forecast to rise 2.7% last month,
The June inflation data is likely to keep Federal Reserve officials cautious, open to cutting interest rates later this year without committing to any course of action. The consumer-price index wasn’t