United States Inflation

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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.

FocusEconomics Consensus Forecast participants expect inflation to average 1.7% in 2014, which is unchanged from last month’s forecast. For 2015, the panel expects average inflation to rise to 2.0%.

Author:, Economist

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United States Inflation Chart

USA Inflation June 2014 2

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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