US Inflation Picks Up in June; Consumer Spending Rises Moderately
U.S. inflation increased in June as tariffs on imports started raising the cost of some goods, supporting economists' expectations that price pressures would pick up in the second half of the year.
The personal consumption expenditures (PCE) price index rose 0.3% last month after an upwardly revised 0.2% gain in May, the Commerce Department's Bureau of Economic Analysis said on Thursday. Economists polled by Reuters had forecast the PCE price index climbing 0.3% following a previously reported 0.1% rise in May....
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