Economic Buzz: US retail inflation marks highest rise since January this year, core inflation nears 3%

The Labor Department released a report showing consumer prices in the US edged up in June. The report said the consumer price index rose by 0.3 percent in June after inching up by 0.1 percent in May. This was the highest monthly growth since January this year. The annual rate of consumer price growth accelerated to 2.7 percent in June from 2.4 percent in July. The core consumer price index, which excludes food and energy prices, gained by 0.2 percent in June after moving up by 0.1 percent in May. The annual rate of core consumer price growth moved higher to 2.9 percent in June from 2.8 percent in May.

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