Consumer prices rose 0.2% in June — the fourth straight increase — as the cost of gasoline, rent and medical care continued to go up, according to a government index that tracks the cost of living.
Economists polled by MarketWatch had expected a 0.2% increase in the consumer price index.
A rebound in oil prices in the spring pushed up the cost of gasoline. The higher cost of fueling up accounted for much of the increase in inflation in June, but key expenses such as housing and medical care have gotten more expensive, too....MORE
Core CPI ticks up to 2.3% YoY in June on more strong services/labor-related price pressure, despite auto deflation pic.twitter.com/J5q18mrWu6— Bespoke (@bespokeinvest) July 15, 2016