By Vince Golle and Craig Stirling
Prices of goods and services, excluding volatile food and energy costs, rose 0.3% in June, the most in five months, according to a Bloomberg survey of economists. In May, the so-called core consumer price index edged up 0.1%.
US Consumer Prices Seen Climbing on Tariffs Pass-Through
Underlying inflation gauge probably accelerated in June
The measure, regarded as a better indicator of underlying inflation, is seen accelerating on an annual basis for the first time since January. to 2.9%.
While Tuesday’s report is likely to show just a little more pass-through of higher US import duties, many economists expect inflation to gradually pick up as the year progresses. At the same time, many merchants are hesitant to ratchet up prices on American consumers exercising more spending discipline in the wake of a cooling job market. It’s a delicate balancing act.
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This article originally appeared here and was republished with permission.
