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Breaking: US annual CPI inflation jumps to 5.4% in June vs. 4.9% expected

FXStreet Team FXStreet

Inflation in the US, as measured by the Consumer Price Index (CPI), jumped to 5.4% on a yearly basis in June from 5% in May, the data published by the US Bureau of Labor Statistics revealed on Tuesday. This reading came in higher than the market expectation of 4.9%.

Further details of the report revealed that the annual Core CPI, which excludes volatile food and energy prices, rose to 4.5% from 3.8%, surpassing analysts' estimate of 4%.

Market reaction

With the initial market reaction, the greenback started to gather strength against its rivals and the US Dollar Index was last seen gaining 0.42% on a daily basis at 92.61.

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FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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Breaking: US annual CPI inflation jumps to 5.4% in June vs. 4.9% expected

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