US consumer prices (CPI) rose +0.9% m/m in June, up +5.3% from a year ago, its highest y/y rate since January 1991.
Core CPI (excluding food and energy) also rose +0.9% m/m in June, up +4.5% from a year ago, its highest y/y rate since September 1991.
Often volatile US consumer energy prices rose +1.5% m/m in June, up +24.2% from a year ago.
In absolute terms, however, energy prices are still below the level they held in 2011-2014, before the collapse in oil prices started in mid-2014.
US consumer food prices rose +0.8% m/m in June, up +2.4% from a year ago. This is a reduced rate of increase compared to the surge in food prices seen during the COVID-19 shutdown.
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