Annual inflation in the US in June was the highest since 2008

Consumer prices in the United States in June increased by 5.4% year-on-year, and on a monthly basis rose by 0.9%, according to a press release from the Ministry of Labor of the country.

The agency notes that the growth of consumer prices in June in annual terms was a record since August 2008, when the indicator was 5.4%. In addition, annual inflation has been continuously accelerating since the beginning of the year.

Analysts surveyed by the DailyFX portal expected a slowdown in consumer price growth to 4.9% in annual terms and to 0.4% on a monthly basis.

At the end of May, annual inflation in the United States was 5%, monthly-0.6%.

Core inflation in the United States – excluding food and energy prices – was 4.5% year-on-year in June, and prices rose by 0.9% over the month. Both indicators were higher than the forecasts of analysts, who expected them at the level of 4% and 0.4%, respectively. The indicator of core inflation in annual terms, as indicated by the Ministry of Labor, was the highest since November 1991.

Food prices in the United States in June rose by 0.8% on a monthly basis, energy prices-by 1.5%. Over the year, food products have risen in price by 2.4%, and energy carriers – by 24.5%.

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Author: Ivan Maltsev
The study of political and social problems of different countries of the world. Analysis of large companies on the world market. Observing world leaders in the political arena.
Function: Chief-Editor
Ivan Maltsev

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