U.S. Consumer Prices Unexpectedly Edge Lower In June
2024-07-10
3824
(fxcue news) - Consumer prices in the U.S. unexpectedly edged slightly lower in the month of June, according to a highly anticipated report released by the Labor Department on Thursday.
The Labor Department said its consumer price index slipped by 0.1 percent in June after coming in unchanged in May. Economists had expected consumer prices to inch up by 0.1 percent.
Excluding food and energy prices, core consumer prices crept up by 0.1 percent in June after rising by 0.2 percent in May. Core prices were expected to increase by another 0.2 percent.
The report also said the annual rate of consumer price growth slowed to 3.0 percent in June from 3.3 percent in May. Economists had expected the pace of price growth to decelerate to 3.1 percent.
The annual rate of core consumer price growth also slowed to 3.3 percent in June from 3.4 percent in May. The pace of growth was expected to remain unchanged.
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