US faces surge in actual and expected inflation
Data shows 5.4% CPI inflation over past year and consumers expect 4.8% rise over next
US inflation continues to surge, as the latest consumer price index (CPI) inflation figures, published today (July 13) showed 5.4% inflation in June 2020. This exceeded the 5% rate set in May, which in turn was well above the 4.2% set in April.
The Bureau of Labor Statistics said that more than one-third of the increase was due to spikes in used motor vehicle prices. Subtracting food and energy, CPI inflation rose 4.5%.
US consumers expect prices to keep rising at an elevated rate going
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