Inflation in USA
USA - Inflation (end of period)
Inflation comes in at highest level since 1981 in June
Consumer prices rose 1.32% in June over the previous month, picking up from May's 0.97% increase. June's result was the highest reading since September 2005. Looking at the details of the release, the reading was largely driven by accelerations in energy and transport prices.
Inflation rose to 9.1% in June, following May’s 8.6%. June's result was the highest inflation rate since November 1981. Annual average inflation rose to 7.2% in June (May: 6.9%). Finally, core inflation edged down to 5.9% in June, from the previous month's 6.0%.
The June inflation reading—which was well above market expectations—will put pressure on the Fed to hike aggressively at its 26–27 July meeting. A hike of 75–100 basis points now appears likely.
FocusEconomics Consensus Forecast participants expect inflation to average 7.9% in 2022, which is up 0.6 percentage points from last month’s forecast. For 2023, the panel expects inflation to average 3.7%.
United States - Inflation (eop) Data
|Inflation Rate (CPI, annual variation in %, eop)||0.6||2.1||2.1||1.9||2.3|
5 years of economic forecasts for more than 30 economic indicators.
United States Inflation (eop) Chart
United States Facts
|Bond Yield||1.92||-0.43 %||Dec 31|
|Exchange Rate||1.12||0.65 %||Dec 31|
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July 25, 2022
The S&P Global Flash Composite Purchasing Managers' Index (PMI) dived to an over two-year low of 47.5 in July, from 52.3 in June.
July 15, 2022
Retail sales grew 1.0% in month-on-month seasonally-adjusted terms in June, which contrasted May's 0.1% decrease and beat market expectations for a 0.8% uptick.
July 13, 2022
Consumer prices rose 1.32% in June over the previous month, picking up from May's 0.97% increase.
July 8, 2022
Total non-farm payrolls increased by 372,000 in June, down slightly from May’s 384,000 revised figure but above market expectations of 268,000.
June 30, 2022
Consumer confidence fell to 98.7 in June from May's 103.2.