The biggest increase since December 1981… The source index excluding energy and food was also 5.9%↑
Stable oil and grain prices, positive impact expected in the future… Corona re-spreading is a variable
US inflation is rising faster than analysts expected.
According to the U.S. Department of Labor on the 13th (local time), the consumer price index (CPI) rose 9.1% in June from the same month a year earlier.
This is higher than the previous month (8.6%), the largest since December 1981.
That’s higher than the 8.8% analysts polled by the Wall Street Journal (WSJ).
In addition, the CPI rose 1.3% in June compared to a month earlier in May.
The increase was larger than in May, when the CPI rose 1.0% compared to last April.
Excluding energy and food, which has high volatility, the core CPI rose 5.9% from the same month of the previous year and 0.7% from the previous month.
Compared to the previous month’s core CPI, which rose by 6.0% compared to the same month of the previous year, the rate of increase has slowed, but the figure is steadily rising compared to the previous month (0.6%).
Accordingly, the US Federal Reserve (Fed), which took out the knife of a giant step (0.75%p rate hike) to catch inflation last month, is also expected to maintain a tough stance.
The WSJ expects the Fed to raise rates by 0.75 percentage points this month as well.
According to the Department of Labor, the most notable rise in U.S. prices last month was food, up 12.2 percent from a year earlier.
In addition, the monthly rent for housing rose by 5.8%, and the price of a new car rose by 11.4%.
In particular, air ticket prices soared by 34%.
However, experts expect that commodity prices such as oil and grain, which have recently shown signs of stabilization, will have a positive impact on inflation in the future.
In fact, the average price of gasoline, which exceeded $5 per gallon (regarding 3.8L) in the middle of last month, fell to $4.63 on the same day.
However, some point out that the direction of inflation is uncertain because there are many variables that will affect the global economy, such as the spread of the novel coronavirus infection (COVID-19) and the war in Ukraine.
/yunhap news
