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Inflation rose 9.1% in June, even more than expected, as price pressures intensify
DC’s War on its Subjects Continues – CPW
(CNBC) Shoppers paid sharply higher prices for a variety of goods in June as inflation kept its hold on a slowing U.S. economy, the Bureau of Labor Statistics reported Wednesday.
The consumer price index, a broad measure of everyday goods and services, soared 9.1% from a year ago, above the 8.8% Dow Jones estimate. That marked another month of the fastest pace for inflation going back to December 1981.
Excluding volatile food and energy prices, so-called core CPI increased 5.9%, compared to the 5.7% estimate.
On a monthly basis, headline CPI rose 1.3% and core CPI was up 0.7%, compared to respective estimates of 1.1% and 0.5%.
Taken together, the numbers seemed to counter the narrative that inflation may be peaking, as the gains were based across a variety of categories…
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