United States: Inflation stabilizes in June
July 22, 2014
In June, consumer prices increased 0.3% over the previous month in seasonally-adjusted terms, which was down slightly from the 0.4% rise recorded in May. The increase, which was in line with market expectations, was driven primarily by a surge in gasoline prices.
Annual inflation held steady at May’s 2.1% in June. Meanwhile, monthly core inflation, which excludes food and energy prices, edged down from 0.3% in May to 0.1% in June. The reading came in just below market expectations of 0.2% and marked the lowest level in four months. Annual core inflation was steady at 1.9% in June (May: 1.9%), while annual average core inflation was 1.7% for the sixth consecutive month.
Author: Carl Kelly, Economist