The Secret Times, Crypto, Bitcoin, Business News.
Worldwide Financial Analysis, Economics, cryptocurrency, Bitcoin, Forex, Technical Analysis, Digital Asset, Money, Stock Market, Block chain, indices

US inflation rises to 9.1%, the largest 12-month increase since November 1981 – Stock Futures tumble

Get real time updates directly on you device, subscribe now.

The US inflation rate has been announced and is 9.1 per cent for June 2022. US Stock futures are trading lower with futures contracts of all three leading indices in red. S&P 500, Dow 30 and Nasdaq futures were all down over 1 per cent.

The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.3 percent in June on a seasonally adjusted basis after rising 1.0 percent in May, the U.S. Bureau of Labor Statistics reported today.

Over the last 12 months, the all items index increased 9.1 percent before seasonal adjustment.

The increase was broad-based, with the indexes for gasoline, shelter, and food being the largest contributors. The energy index rose 7.5 percent over the month and contributed nearly half of the all items increase, with the gasoline index rising 11.2 percent and the other major component indexes also rising.

The food index rose 1.0 percent in June, as did the food at home index. The index for all items less food and energy rose 0.7 percent in June, after increasing 0.6 percent in the preceding two months.

While almost all major component indexes increased over the month, the largest contributors were the indexes for shelter, used cars and trucks, medical care, motor vehicle insurance, and new vehicles.

The indexes for motor vehicle repair, apparel, household furnishings and operations, and recreation also increased in June. Among the few major component indexes to decline in June were lodging away from home and airline fares.

The all items index increased 9.1 percent for the 12 months ending June, the largest 12-month increase since the period ending November 1981.

The all items less food and energy index rose 5.9 percent over the last 12 months. The energy index rose 41.6 percent over the last year, the largest 12-month increase since the period ending April 1980. The food index increased 10.4 percent for the 12-months ending June, the largest 12-month increase since the period ending February 1981.

Earlier, for the May 2022 data, over the last 12 months, the all items index increased 8.6 percent before seasonal adjustment. In April, the Consumer Price Index for All Urban Consumers rose 0.3 percent, seasonally adjusted, and rose 8.3 percent over the last 12 months, not seasonally adjusted.

Do you need to be Rich? then Subscribe to our newsletter
Sign up here to get the latest Markets & Success news, updates and special Successful and Market Analysis delivered directly to your inbox. get ride the positive vibes!
You can unsubscribe at any time

Comments are closed.