Consumers prices in the U.S. rose by 0.3 percent in June, largely driven by high gasoline prices, suggesting inflationary pressures are strengthening.
The consumer price index is a broad indicator of what Americans pay for everything. The index rose 0.3 percent in June after increasing 0.4 percent in May, according to the Labor Department. Economists surveyed by The Wall Street Journal had estimated a 0.3 percent increase.
Excluding food and energy prices, which are considered volatile items, the index rose only 0.1 percent for June. Meat prices rose 0.2 percent in June after jumping 1.4 percent in May, whereas the price of dairy, food and vegetables fell.
Gasoline prices rose 3 percent last month, accounting for two-thirds of the increase. Conflict in Iraq pushed prices up, but many economists believe summer prices have reached their peak.
The Federal Reserve set a 2 percent inflation milestone before they raise short-term interest rates. Higher consumer prices signal inflation is moving toward this goal. While inflation has consistently undershot the Fed's expectations for the last two years, it has risen in the past few months, which, coupled with the strengthening labor market, could lead to a sooner-than-expected rise in near-zero interest rates.
GMT 11:02 2018 Tuesday ,11 December
ASE opens trading on lower noteGMT 15:40 2018 Monday ,10 December
Amman stock market closes trading at JD4.4 millionGMT 19:10 2018 Wednesday ,05 December
Index at Palestine stock market drops by less than one pointGMT 17:58 2018 Sunday ,25 November
Amman stock market wraps up trading at JD2.6 millionGMT 14:24 2018 Thursday ,22 November
Russia’s stock market demonstrates record-breaking figures in 2018GMT 11:45 2018 Tuesday ,20 November
Tokyo stocks close lower as tech issues weigh, Nissan tumblesGMT 15:08 2018 Monday ,19 November
Amman stock market wraps up trading at JD6.1 millionGMT 15:51 2018 Sunday ,18 November
U.S. stocks post weekly losses amid tech shares routMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor