. .

Consumer Prices Rise 0.7 in June

Consumer Prices Rise 0.7 in June

In June, the nation's consumer inflation rose up 0.6% according to the U.S. Labor Department which was the fastest climb in the last 11 months. The annual inflation rate though still remains in stagnation. Core inflation excluding volatile food and energy prices rose 0.2% last month. According to estimates by Thomson Reuters both inflation rates in June was similar to economists' predictions. On an annual basis, consumer prices went down 1.4% according to the U.S. Labor Department.

Ian Shepherdson from High Frequency Economics said "we continue to expect the combination of depressed retail spending, falling wages and tight credit will drive core inflation lower for the foreseeable future."

The answer for the question when inflation will happen remains unknown but the general believe is the inflation will indeed happen.

Fox Business News-7/15/2009