Consumer price inflation likely firmed in June relative to May but remained on a downward trajectory through the month-to-month noise.
Summary We estimate headline CPI rose 0.1% in June, with a decline in gasoline prices helping keep the overall increase in prices tame. The core index also looks to have rebounded slightly. We expect core CPI to register a “high” 0.2% gain after posting the smallest monthly gain in three years in May . While a bounce back in core services ex-housing is likely to propel the pickup, favorable seasonal factors and broadly easing price pressures should mitigate the extent of June's rebound.
The Consumer Price Index held steady in May, marking the first month prices did not increase since the summer of 2022. Excluding food and energy, prices advanced 0.16%, which was the smallest rise in nearly three years and a tenth below consensus expectations. The CPI's tamer readings were echoed by the PCE deflator, the Fed's preferred inflation gauge. The core PCE index rose 0.08% over the month, half the pace of the FOMC's 2% target when measured on an annualized basis.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japan's National CPI rises 2.8% YoY, but Core CPI rises less than expectedJapan's National Consumer Price Index (CPI) rose on an annualized basis, with headline CPI inflation climbing 2.8% YoY versus the previous print of 2.5%.
Read more »
Tokyo CPI up slightly in June; underlying inflation lagsTokyo CPI up slightly in June; underlying inflation lags
Read more »
Japanese Tokyo CPI inflation ticks higher in June, rises to 2.3% YoY from 2.2%Japanese Tokyo Consumer Price Index (CPI) inflation rose to 2.3% over the year ended in June compared to the previous period's 2.2%.
Read more »
Dow Jones, Nasdaq, S&P 500 weekly preview: June CPI data, Q2 season in focusDow Jones, Nasdaq, S&P 500 weekly preview: June CPI data, Q2 season in focus
Read more »
'Mama June: Family Crisis': Anna Shares Lighthearted Moment With Mom June Amid Her Health Battle (Exclusive)A new episode of 'Mama June: Family Crisis' airs Friday, June 28, at 9 p.m. ET/PT on WEtv.
Read more »
June solstice 2024 brings changing seasons to Earth on June 20 — What to knowJoe Rao is Space.com's skywatching columnist, as well as a veteran meteorologist and eclipse chaser who also serves as an instructor and guest lecturer at New York's Hayden Planetarium. He writes about astronomy for Natural History magazine, the Farmers' Almanac and other publications.
Read more »