US CPI climbed 0.3% mom in June, matching forecasts, with the increase largely driven by a 0.2% mom rise in shelter costs and a 0.9% mom gain in energy prices. Food prices also edged higher, up 0.3% mom on the month. While the headline data aligned with expectations, the core CPI—excluding food and energy—rose just 0.2% mom, slightly below the anticipated 0.3% mom gain.
On a year-over-year basis, headline inflation jumped from 2.4% to 2.7%, in line with projections. However, core inflation ticked up only marginally from 2.8% to 2.9%, coming in under the 3.0% consensus. The annual energy index fell -0.8%, offering some offset to stickier components like food, which rose 3.0% over the year.
