(RTTNews) - Consumer prices jumped sharply higher in June, boosted by rises in food and energy. However, the core consumer inflation rate ticked up as well, topping the pace predicted by economists.

The U.S. Labor Department revealed that its consumer price index climbed by 1.1% in June compared to the previous month. This represented a marked acceleration from May, when consumer prices were up 0.6%.

The increase topped the expectation of economists, who were generally looking for a 0.7% increase.

Core consumer prices, which exclude the volatile food and energy sectors, advanced by 0.3% in the month. This also marked a pick up in inflation compared to May, when core CPI was up 0.2%.

The core rate was above the 0.2% predicted by economists.

Compared to last year, headline consumer prices were up 5.0% in June. Core consumer inflation was 2.4% on an annual basis.

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Posted in Categories: Economy, Releases, USA.

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