Gasoline, food boost U.S. consumer inflation in June

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U.S. consumer prices increased by the most in nearly eight years in June as businesses reopened, but the underlying trend suggested inflation would remain...
WASHINGTON (Reuters) - muted and allow the Federal Reserve to keep injecting money into the ailing economy.

The Labor Department said on Tuesday its consumer price index increased 0.6% last month, the biggest gain since August 2012, after easing 0.1% in May. The increase, which ended three straight months of declines, was driven by rises in the prices of gasoline and food.

In the 12 months through June, the CPI climbed 0.6% after gaining 0.1% in May, which was the smallest year-on-year rise since September 2015.

Economists polled by Reuters had forecast the CPI increasing 0.5% in June and advancing 0.6% year-on-year.

Businesses have reopened after shuttering in mid-March to slow the spread of COVID-19.…
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