.jpg)
7 hours ago
1
Article content
(Bloomberg) — Here are five key takeaways from the June consumer price index report, released Tuesday. Click here for our TOPLive blog:
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
- Overall CPI rose 0.3%, as expected, the biggest monthly advance since January. That brought the year-on-year increase to 2.7%, marking an acceleration from 2.4% in May. Higher food and energy prices helped drive the acceleration.
- Stripping out food and energy, the core CPI rose 0.2% on a rounded basis, undershooting the median forecast for a fifth straight month. The 12-month increase came in at 2.9%, matching expectations and marking an uptick from the 2.8% pace sustained over the previous three months.
- Core inflation was held down by declines in both new and used vehicle prices, along with airfares and lodging costs. Housing prices were also tame relative to the years of high inflation, with shelter up 0.2% on a monthly basis. Effects of tariff increases were visible in a number of categories, with household furnishings up 1%, for the biggest rise since January 2022; video and audio products up 1.1% — the most since February last year; and toy prices climbing 1.8% on the month, the most since April 2021.
- With new, higher tariff rates threatened to kick in starting in August, economists said the June inflation report was unlikely to push the Federal Reserve into cutting interest rates sooner rather than later. Interest-rate futures continued to show odds-on chances of the Fed resuming rate cuts in September.
- Stock futures added to gains after the release, while two-year Treasury yields surrendered a modest rise. Two-year notes yielded about 3.90% as of 9:23 a.m. in New York, and contracts on the S&P 500 were up about 0.5%. The Bloomberg Dollar Spot Index was little changed.
Article content
Article content
Article content
English (US)