CPI rose in June to 2.7% annual rate, new data shows
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The Consumer Price Index in June rose 2.7% on an annual basis, a sign inflation around the U.S. is creeping up after declining earlier this year.
By the numbers
The CPI was forecast to rise 2.7% last month, higher than last month’s rate of 2.4%, according to economists polled by financial data firm FactSet.
On a month-over-month basis, the CPI rose 0.3%, which is the largest increase since January and in line with economists’ forecasts.
The CPI, a basket of goods and services typically bought by consumers, tracks the change in those prices over time.
So-called core inflation, a measure of CPI that excludes food and energy prices (which are more volatile), rose by 2.9% over the past 12 months, according to the Bureau of Labor Statistics. That’s slightly below the 3% predicted by economists polled by FactSet.
Mary Cunningham is a reporter for CBS MoneyWatch. Before joining the business and finance vertical, she worked at “60 Minutes,” CBSNews.com and CBS News 24/7 as part of the CBS News Associate Program.
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