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Financial News: U.S. Consumer Prices Unexpectedly Edge Higher In June

U.S. Consumer Prices Unexpectedly Edge Higher In June

07/11/2019 - 08:38:00 (RTTNews)

(RTTNews) - With a steep drop in gas prices offset by an increase in the cost of shelter, the Labor Department released a report on Thursday showing an unexpected uptick in U.S. consumer prices in the month of June.

The Labor Department said its consumer price index inched up by 0.1 percent in June, matching the slight increase seen in May. Economists had expected consumer prices to come in unchanged.

Excluding food and energy prices, core consumer prices rose by 0.3 percent in June after inching up by 0.1 percent for four consecutive months. Core prices had been expected to edge up by 0.2 percent.

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