U.S. Inflation Rate Surpasses Expectations in June
(MENAFN) Fresh data published on Tuesday indicates that the consumer price index in the United States rose more than analysts had anticipated for the month of June.
According to figures from the Bureau of Labor Statistics, the annual inflation rate for the country stood at 2.7%, outpacing the predicted 2.6%.
In more detail, the cost of food rose by 3% compared to the same period last year, whereas the energy sector saw a reduction of 0.8% on a year-over-year basis.
When looking at month-to-month changes, consumer prices climbed by 0.3%, which was consistent with economist projections.
A closer examination reveals that the shelter index increased by 0.2% in June, marking it as the most significant contributor to the overall rise in monthly prices.
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