Economics
U.S. Consumer Prices Climb by Most Since 2012 on Higher Gasoline
- Prices at gas pump account for more than half of June CPI gain
- Year-over-year advance of 0.6% shows inflation is subdued
Photographer: Luke Sharrett/Bloomberg
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U.S. consumer prices posted the biggest monthly gain since 2012 on a rebound in gasoline costs, though inflation remained subdued more broadly amid the pandemic.
The consumer price index jumped 0.6% from the prior month, the first increase since February, after a 0.1% drop in May, Labor Department figures showed Tuesday. The median forecast in a Bloomberg survey of economists called for a 0.5% increase. Compared with a year earlier, the gauge increased 0.6%.