US inflation surpasses expectations in largest uptick since 2008

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

Mike Sheen
clock • 2 min read
US inflation surpasses expectations in largest uptick since 2008

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...

To continue reading this article...

Join Investment week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Economics

The monthly rise was largely driven by a 2.8% rise in food store sales
UK

UK retail sales jump in April despite inflation at 40-year high

Down 0.3% from previous quarter

clock 20 May 2022 • 1 min read
Industry Voice: Not All Currencies Are Made Equal, So Don't Treat Them as Such

Industry Voice: Not All Currencies Are Made Equal, So Don't Treat Them as Such

Selective currency hedging may boost yields and add stability

Michael Walsh, Multi‑Asset Solutions Strategist at T. Rowe Price
clock 20 May 2022 • 3 min read
UK consumer confidence hits record low as the cost of living crisis deepens

UK consumer confidence hits record low as the cost-of-living crisis deepens

Report by GfK

clock 20 May 2022 • 1 min read
Trustpilot