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Inflation ticks up again

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Inflation ticks up again

Consumer Price Index rises in line with expectations.

The Labor Department reported today that the Consumer Price Index (CPI) increased 0.3% in June, primarily due to increases in fuel costs. This follows May’s rise of 0.4%.

The results were in line with analysts expectations.

Excluding the volatile food and energy sectors, core inflation grew 0.1% during the month.

In the 12 months through June, the CPI rose 2.1%.

Following rises in prices in each of the last three months, June’s increase, along with rising producer prices, is spurring concern that inflation may be gaining momentum.

 

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