US inflation numbers come in at 2.7%, higher than expectations
The post US inflation numbers come in at 2.7%, higher than expectations appeared on BitcoinEthereumNews.com. The US consumer price index rose 2.7% in June compared to a year earlier, more than economists’ forecasts. The increase upped May’s 2.4% annual rate, buoyed by shelter, food, energy, and household goods gains. According to data released by the US Bureau of Labour Statistics (BLS), on a monthly basis, the CPI rose 0.3%, the biggest percentage uptick since January. Core inflation, which strips out food and energy costs, increased by 2.9% over the past 12 months. The figure came in slightly below the 3% predicted by analysts but is well above the Federal Reserve’s long-term target of 2%. Shelter and core goods trending upwards The BLS reported that shelter is the single largest contributor to overall inflation, despite slowing down to a 0.2% rise for the month. The category was up 3.8% year-over-year, with rent-equivalent measurements for owner-occupied housing up 0.3%. Lodging away from home, however, dropped by 2.9%. In other categories, food prices rose 0.3% in June and were up 3% over the past 12 months. Energy prices, which declined in May, rebounded with a 0.9% monthly increase, although they are slightly lower compared to June 2024. Transportation services ticked higher by 0.2%, while medical care services posted a 0.6% increase. Vehicle prices moved in the opposite direction, as prices for new cars declined 0.3%, and used car and truck prices fell by 0.7%. Trade-sensitive categories like apparel prices, affected by tariffs, rose 0.4%, while household furnishings increased 1%, one of the largest jumps among core goods. Trump administration is confident of the US economic situation Speaking at the White House on Monday, ahead of the CPI release, President Donald Trump said that inflation was no longer a concern. “The economy is roaring, business confidence is soaring, incomes are up, prices are down, and inflation is dead,” he…
The post US inflation numbers come in at 2.7%, higher than expectations appeared on BitcoinEthereumNews.com.
The US consumer price index rose 2.7% in June compared to a year earlier, more than economists’ forecasts. The increase upped May’s 2.4% annual rate, buoyed by shelter, food, energy, and household goods gains. According to data released by the US Bureau of Labour Statistics (BLS), on a monthly basis, the CPI rose 0.3%, the biggest percentage uptick since January. Core inflation, which strips out food and energy costs, increased by 2.9% over the past 12 months. The figure came in slightly below the 3% predicted by analysts but is well above the Federal Reserve’s long-term target of 2%. Shelter and core goods trending upwards The BLS reported that shelter is the single largest contributor to overall inflation, despite slowing down to a 0.2% rise for the month. The category was up 3.8% year-over-year, with rent-equivalent measurements for owner-occupied housing up 0.3%. Lodging away from home, however, dropped by 2.9%. In other categories, food prices rose 0.3% in June and were up 3% over the past 12 months. Energy prices, which declined in May, rebounded with a 0.9% monthly increase, although they are slightly lower compared to June 2024. Transportation services ticked higher by 0.2%, while medical care services posted a 0.6% increase. Vehicle prices moved in the opposite direction, as prices for new cars declined 0.3%, and used car and truck prices fell by 0.7%. Trade-sensitive categories like apparel prices, affected by tariffs, rose 0.4%, while household furnishings increased 1%, one of the largest jumps among core goods. Trump administration is confident of the US economic situation Speaking at the White House on Monday, ahead of the CPI release, President Donald Trump said that inflation was no longer a concern. “The economy is roaring, business confidence is soaring, incomes are up, prices are down, and inflation is dead,” he…
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