United States: Inflation rises in June
July 16, 2013
In June, consumer prices rose 0.5% over the previous month in seasonally adjusted terms, which was above the 0.1% increase recorded in May and marks the highest rise in four months. The result exceeded market expectations of 0.4%. The print mainly reflects higher prices for energy, in particular for gasoline.
Annual inflation jumped from 1.4% in May to 1.8% in June. The core inflation index, which excludes food and energy, added 0.2% over the previous month, matching market expectations. Annual core inflation dropped to 1.6% (May: 1.7% year-on-year).
Annual average inflation remained at the 1.7% observed in the previous month.
FocusEconomics Consensus Forecast participants expect inflation to average 1.9% in 2013, which is down 0.1 percentage points from last month's forecast. For 2014, the panel anticipates average inflation to rise to 2.2%.