US inflation rises 2.9% in June YoY

Economy 7/12/2018, 2:32 PM
US inflation rises 2.9% in June YoY

Consumer prices in the United States increased 2.9% on a yearly basis in June, according to a report published by the US Bureau of Labor Statistics on Thursday. Compared to the month before that, the Consumer Price Index saw an increase of 0.1%, marking a smaller increase than in May when the index grew 0.2%

The rise was boosted by the increase in shelter, gasoline and food items. The food index saw a rise of 0.2% in June while indexes for food at home and food away from home also rose by 0.2%. Meanwhile, the energy index declined 0.3% due to the falls in indexes for both electricity and natural gas.

Year on year, the index for all items that rose 2.9% marked the biggest increase since the ending of February 2012. Meanwhile, the index for all items, excluding food and energy, rose 2.3% in June on an annual basis. The food index saw an increase of 1.4% while the energy index rose 12%.

Breaking the News / VK

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