Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
The U.S. consumer price index jumped a more-than-expected 1.3% in June from a month earlier as energy prices surged 7.5%, but core inflation also bested expectations, accelerating a tenth to 0.7%. The data could stoke market expectations for the Federal Reserve to consider another jumbo interest rate increase at its meeting later this month. Markets had expected a 1.1% rise in CPI last month.
Over the past 12 months, headline CPI has risen 9.1%, the most since November 1981, and core CPI turned in 5.9%. Energy inflation was 41.6% over the last year, the largest since 1980, while food inflation was 10.4%, the most since 1981.
Shelter rose 0.6% over the month, with rent jumping 0.8%, the most since 1986, and owners' equivalent rent rising 0.7%. Dallas Fed economist Jim Dolmas told MNI he sees little sign of slowing inflation. (See: MNI INTERVIEW: No Sign of Slowing in Inflation - Fed's Dolmas)
Source: Bureau of Labor Statistics
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.