Post by ferris1248 on Jul 11, 2024 9:34:45 GMT -5
"A closely watched report on US inflation showed consumer price increases cooled further in June, according to the latest data from the Bureau of Labor Statistics released Thursday morning."
"The Consumer Price Index (CPI) declined 0.1% over the previous month and increased just 3% over the prior year in June — a deceleration from May's flat month-over-month increase and 3.3% annual gain in prices. Both measures beat economist expectations of a 0.1% monthly increase and a 3.1% annual gain."
"Notably, this is the first time since May 2020 that monthly headline CPI came in negative. It's also the slowest annual gain in prices since March 2021."
"On a "core" basis, which strips out the more volatile costs of food and gas, prices in June climbed 0.1% over the prior month and 3.3% over last year — cooler than May's data. Economists had expected a 0.2% monthly uptick in core prices and a 3.4% year-over-year increase."
"It was the smallest month-over-month increase in core prices since August 2021."
"On Friday, the Bureau of Labor Statistics showed the labor market added 206,000 nonfarm payroll jobs last month, ahead of the 190,000-plus expected by economists. However, the unemployment rate unexpectedly rose to 4.1%, up from 4% in the month prior. It was the highest reading in almost three years."
"The index for rent and owners' equivalent rent (OER) each rose 0.3% on a monthly basis, the smallest increases in these indexes since August 2021. "
"Meanwhile, lodging away from home decreased by 2% in June, after falling 0.1% in May."
"Energy prices also fell again in June, driven by a significant drop in gas prices. The index declined another 2% over the prior month. "
"Gas prices fell 3.8% from May to June after falling 3.6% the previous month."
"The food index increased 2.2% in June over the last year, with food prices rising 0.2% from May to June — proving to be a sticky category for inflation. The index for food at home rose 0.1% month over month while food away from home increased another 0.4%."
finance.yahoo.com/news/inflation-falls-in-june-for-first-time-since-2020-as-consumer-price-increases-continue-to-slow-123243293.html
"The Consumer Price Index (CPI) declined 0.1% over the previous month and increased just 3% over the prior year in June — a deceleration from May's flat month-over-month increase and 3.3% annual gain in prices. Both measures beat economist expectations of a 0.1% monthly increase and a 3.1% annual gain."
"Notably, this is the first time since May 2020 that monthly headline CPI came in negative. It's also the slowest annual gain in prices since March 2021."
"On a "core" basis, which strips out the more volatile costs of food and gas, prices in June climbed 0.1% over the prior month and 3.3% over last year — cooler than May's data. Economists had expected a 0.2% monthly uptick in core prices and a 3.4% year-over-year increase."
"It was the smallest month-over-month increase in core prices since August 2021."
"On Friday, the Bureau of Labor Statistics showed the labor market added 206,000 nonfarm payroll jobs last month, ahead of the 190,000-plus expected by economists. However, the unemployment rate unexpectedly rose to 4.1%, up from 4% in the month prior. It was the highest reading in almost three years."
"The index for rent and owners' equivalent rent (OER) each rose 0.3% on a monthly basis, the smallest increases in these indexes since August 2021. "
"Meanwhile, lodging away from home decreased by 2% in June, after falling 0.1% in May."
"Energy prices also fell again in June, driven by a significant drop in gas prices. The index declined another 2% over the prior month. "
"Gas prices fell 3.8% from May to June after falling 3.6% the previous month."
"The food index increased 2.2% in June over the last year, with food prices rising 0.2% from May to June — proving to be a sticky category for inflation. The index for food at home rose 0.1% month over month while food away from home increased another 0.4%."
finance.yahoo.com/news/inflation-falls-in-june-for-first-time-since-2020-as-consumer-price-increases-continue-to-slow-123243293.html