US inflation unchanged in June
The Labor Department announced on Tuesday that the Consumer Price Index m/m remained steady at 0.0% in June as expected. On a yearly basis, CPI came out above expectations at 1.7% unchanged from May’s reading compared to consensus for 1.6%.
In the meantime, Core CPI m/m remained unchanged at 0.2% in line with economists’ forecasts. The Core CPI y/y eased at 2.2% in line with the expected, but down from May’s figure at 2.3%.
Inflation readings came out in line with expectations and didn’t trigger any strong market reaction. Tamer inflation gives more room for the FED to act if eventually the need is felt to boost the US economic recovery.
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