The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.9 percent in June on a seasonally adjusted basis after rising 0.6 percent in May, the U.S. Bureau of Labor Statistics reported today. This was the largest 1-month change since June 2008 when the index rose 1.0 percent. Over the last 12 months, the all items index increased 5.4 percent before seasonal adjustment; this was the largest 12-month increase since a 5.4-percent increase for the period ending August 2008. The index for used cars and trucks continued to rise sharply, increasing 10.5 percent in June. This increase accounted for more than ... (full story)

Inflation continued its rapid surge in June, rising its fastest pace in nearly 13 years, the Labor Department reported Tuesday. The consumer price index increased 5.4% from a year ago, the largest jump since just before the financial crisis. Economists surveyed by Dow Jones had been expecting a 5% gain. Stripping out volatile food and energy prices, the core CPI rose 4.5%, the sharpest move for that measure since September 1991. Inflation has been rising due to a number of factors, including supply chain bottlenecks, extraordinarily high demand as the Covid-19 pandemic eases, and year-over-year comparisons to a time ... (full story)