US CPI annual inflation jumps to 5.4% in June from 4.9% expected

Inflation in the United States, as measured by the Consumer Price Index (CPI), jumped to 5.4% on an annual basis in June from 5% in May, data released by the United States Bureau of Labor Statistics. This reading is 4.9% higher than market expectations.

Further details from the report found that the annual core CPI, which excludes volatile food and energy prices, fell from 3.8% to 4.5%, beating analysts’ estimate of 4. %.

Market reaction

With the initial market reaction, the greenback began to strengthen against its rivals and the US dollar index was last seen gaining 0.42% on a daily basis to 92.61.