ANKARA: Annual consumer inflation in the United States (US) rose 9.1 per cent in June, marking the largest 12-month increase since November 1981, the US Department of Labour announced on Wednesday.
The consumer price index (CPI), which measures changes in the prices of goods and services from a consumer’s perspective, came much higher than the market estimate of 8.8 per cent, after it annually rose 8.6 per cent in May, reported Anadolu Agency.
On a monthly basis, the CPI rose 1.3 per cent in June from the previous month, also coming higher than the market expectation of 1.1 per cent. The monthly CPI increase in May was 1 per cent.
Gasoline, shelter, and food were the largest contributors to the consumer price increase, according to the Department of Labour.
“The energy index rose 7.5 per cent over the month and contributed nearly half of the all items increase, with the gasoline index rising 11.2 per cent and the other major component indexes also rising,“ it said in a statement.
On an annual basis, they soared 41.6 per cent and 59.9 per cent, respectively.
The core CPI, which excludes food and energy, increased 0.7 per cent in June from the previous month, coming above the market expectation of a 0.6 per cent gain. Core CPI posted a monthly increase of 0.6 per cent in May.
Annually, core CPI jumped 5.9 per cent in June year-on-year, also coming above the market estimate of 5.7 per cent, after gaining 6 per cent in May from the same month a year ago.-Bernama