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July 13, 2021Consumer prices in the United States rose by 0.9% in June, beating analysts' expectations who expected a 0.5% rise, according to the Labor Department report. The rate of increase has been the fastest in 13 years. The "core" figure, ie the one without the component of the prices of food and energy goods, grew by 0.9%, while an increase of 0.5% was expected. On an annual basis, the overall figure is up 5.4%, compared to the same period last year. This is the highest reading since September 2008. The annual "core" figure is up 4.5%.
Energy prices rose by 1.5%, while food prices rose by 0.8. Much of the pricing pressures have come from industries particularly impacted by lockdowns: used car prices, airfares and transportation costs. Inflation has increased due to a number of factors, including supply chain bottlenecks due to the pandemic.