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U.S. Core Consumer Inflation Tops Projections in Broad Gain

  • Report shows advances across shelter, furnishings, clothing
  • Core data top estimates for both monthly and annual readings
Vehicles on display at a dealership in Los Angeles, California
Vehicles on display at a dealership in Los Angeles, CaliforniaPhotographer: Patrick T. Fallon/Bloomberg/Bloomberg
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A key measure of U.S. consumer prices rose more than forecast in June, potentially complicating the Federal Reserve’s assessment of inflation as policy makers weigh an interest-rate cut as soon as this month.

The core consumer price index, which excludes food and energy, rose 0.3% from the prior month, the most since January 2018, and 2.1% from a year earlier, Labor Department data showed Thursday. Both figures exceeded estimates. The broader CPI climbed 0.1%, also more than projected, and 1.6% annually.