US inflation surpasses expectations in largest uptick since 2008

12-month rate of 5.4% beats market expectation of 4.9%.

US inflation came in higher than expected in June as the Bureau of Labor Statistics reported the largest one-month and 12-month increases since 2008.

The Consumer Price Index for All Urban Consumers rose by 0.9% in June, up from 0.6% in the previous month, while the 12-month rate was at 5.4%, beating a market expectation of 4.9%. US inflation reaches...