United States Inflation June 2020

United States

United States: Inflation increases in June

July 14, 2020

Consumer prices rose 0.57% over the previous month in June, contrasting May’s 0.1% dip. A surge in energy and transport was chiefly behind June’s print. Core consumer prices—which exclude volatile items such as food and energy—increased 0.23% in June (May: -0.1% month-on-month).

Inflation accelerated 0.6% in June, which was up from 0.1% in May. Meanwhile, core inflation was stable at May’s 1.2%. The core personal consumption expenditures price index—a gauge of household spending closely tracked by the Fed—ticked down to 0.5% in May, the latest month for which data is available, from 0.6% in April and falling further below the Fed’s 2.0% target.

FocusEconomics participants expect inflation to average 0.8% in 2020, which is unchanged from last month’s forecast. For 2021, the panel expects inflation to average 1.6%.

Author:, Economist

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United States Inflation June 20 20

Note: Year-on-year and month-on-month variation of seasonally-adjusted consumer price index in %.
Source: Bureau of Labor Statistics.

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