U.S. Consumer Prices Jump Most Since 2008, Topping All Estimates

About This Source - Bloomberg QuickTake: Now

Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City.

It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 12% ownership investment by Merrill Lynch.

Recent from Bloomberg QuickTake: Now:

  • Covid-19: Australia’s Reopening Subject to Vaccination Rate, Says PM
  • U.S. Hits Biden’s 70% Covid Vaccination Target Nearly a Month Late
  • U.S. Closer to End of Covid Pandemic Than Beginning: Ex-FDA Chief
  • Bloomberg Quicktake: Now published this video item, entitled “U.S. Consumer Prices Jump Most Since 2008, Topping All Estimates” – below is their description.

    Prices paid by U.S. consumers surged in June by the most since 2008, topping all forecasts and complicating the Federal Reserve’s debate over how soon to unwind ultra-easy monetary support for the economy.

    The consumer price index jumped 0.9% in June and 5.4% from the same month last year, according to Labor Department data released Tuesday. Excluding the volatile food and energy components, the so-called core CPI rose 4.5% from June 2020, the largest advance since November 1991.

    Used vehicles accounted for more than a third of the gain in the CPI, the agency said. The outsize increase was also driven in large part by the pricing rebound in categories associated with a broader reopening of the economy including hotel stays, car rentals, apparel and airfares.

    Bloomberg Quicktake: Now YouTube Channel

    Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.

    Leave a Comment