Consumer prices in the United States remained nearly unchanged last month, though the fundamental trajectory still indicated a firm rise in inflation pressures, which will likely make the Fed go the way of gradual rate hikes.
Consumer Price Index by the Labor Department increased 0.1% as growth of gasoline prices slowed and clothing prices dipped, the agency said today. The index added 0.2% in May.
Another inflation gauge is made by the Federal Reserve, and it attained the targeted 2% in May, the first such case in six years. The index of personal consumption expenditure prices without taking into account food and energy is going to surpass the target, experts forecast.