US CPI rose 1.3% mom in June, above expectation of 1.0% mom. CPI core rose 0.7% mom, also above expectation of 0.5% mom. Energy index rose 7.5% mom, contributed nearly half of the all items increase. Gasoline index rose 11.2% mom. Food index rose 1.0% mom.
For the 12-month period, CPI accelerated from 8.6% yoy to 9.1% yoy, above expectation of 8.7% yoy. That’s the highest level since November 1981. CPI core (all items less food and energy) slowed slightly from 6.0% yoy to 5.9% yoy, above expectation of 5.7% yoy. Energy index rose 41.6% yoy, highest since April 1980. Food index rose 10.4% yoy, highest since February 1981.
