Economy USA

Higher-than-expected inflation in the United States in July

WASHINGTON (Reuters) – Consumer prices in the U.S. rose more than expected in July, driven by the rebound in gasoline prices, according to statistics released Thursday by the Labor Department.

In seasonally adjusted data, retail prices rose 0.5% last month; it is their biggest increase since March. Economists expected a rebound of 0.2% after falling 0.2% in June

The price of gasoline, which jumped 4.7% after falling 6.8% in June accounted for about half the stronger than expected rebound.

12-month price increases 3.6%, while the market awaited 3.3%.

The index of core inflation (“core”), which excludes food and energy, has meanwhile increased by 0.2% in July, as expected, after 0.3% in June

Over one year base prices were up 1.8%, slightly above consensus (1.7%), the largest increase in this index since December 2009.

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