(BLS) US consumer prices showed less signs of slowing down after a 5.4% jump in June from a year ago, the biggest monthly gain since August 2008.
The inflation jump in June was more than expected 5% increase.
Core CPI, that excludes volatile food and energy prices, gained by 4.5%, the fastest rate since 1991 and more than expected 3.8%.
On a monthly basis, headline inflation and core CPI was up 0.9%, more than projected 0.5%.
Food and energy prices ticked higher by 0.8% and 1.5% respectively in June.
Gasoline index climbed by 2.5% and is now up 45.1% in the last 12 months.
Energy index rose by 24.5% in the past one year, while the food index is now up 2.4% in the same period.
Rising inflation was linked to supply chain constraints and rising demand after easing of restrictions.
Inflation gains come amid Fed’s views that the price pressures are transitory, with consumers expecting a gain of 4.8% in the next 12 months.
SPY is down -0.11%, DXY is up +0.41%.
