The United States had an annual inflation rate of 2.7% in June when tracked by the Consumer Price Index (CPI), an increase from 2.4% in May, as revealed by the US Bureau of Labor Statistics (BLS) on Tuesday. This figure matched the market forecast.
Inflation in the United States (US), as measured by the change in the Consumer Price Index (CPI), rose to 2.4% on a yearly basis in May from 2.3% in April, the US Bureau of Labor Statistics (BLS) reported on Wednesday.
Inflation in the United States (US), as measured by the change in the Consumer Price Index (CPI), declined to 2.3% on a yearly basis in April from 2.4% in March, the US Bureau of Labor Statistics (BLS) reported on Tuesday. This reading came in below the market expectation of 2.4%.
Inflation in the United States (US), as measured by the change in the Consumer Price Index (CPI), declined to 2.4% on a yearly basis in March from 2.8% in February, the US Bureau of Labor Statistics (BLS) reported on Thursday. This reading came in below the market expectation of 2.6%.
The Consumer Price Index released by the US Bureau of Labor Statistcs measures price movements by comparing the retail prices of a representative basket of goods and services. Inflation reduces the purchasing power of the US Dollar (USD), and the CPI is a key indicator to measure inflation and changes in purchasing trends. Generally, a higher CPI reading is seen as positive (bullish) for the USD, while a lower reading is viewed as negative (bearish).
The US Federal Reserve (Fed) has a dual mandate: to maintain price stability and achieve maximum employment. As part of this mandate, inflation is targeted at around 2%. Inflation became a critical challenge for the Fed, especially in the aftermath of the Covid-19 pandemic, with the CPI reaching multi-decade highs due to persistent supply-chain issues and bottlenecks. The Fed decided to increase interest rates sharply to tame inflation.
