US inflation rebounded in June
Consumer prices rose 0.3% last month, pushing the annual inflation rate higher to 2.7%, according to the latest Consumer Price Index data released Tuesday by the Bureau of Labor Statistics.
June's data served as a turnabout from the relatively tame inflation readings of recent months, periods marked by falling gas prices, an ongoing disinflation in housing, weaker-than-typical travel prices and businesses not passing on their higher costs to customers.
Economists were expecting CPI to have risen by 0.3% from May and by 2.7% annually, according to FactSet.
This story is developing and will be updated.
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