“The inflation rate in the US edged up to 2.9 percent in June of 2018 from 2.8 percent in May, matching market expectations. It is the highest rate since February of 2012 when inflation was also at 2.9 percent. Inflation was higher only in December of 2011 when it reached 3 percent. On a monthly basis, prices increased 0.1 percent, lower than 0.2 percent in May and forecasts of 0.2 percent. Prices of shelter, gasoline, and food made the main upward pressure.”
USAGOLD note: We should keep in mind that this month’s CPI release reflects pressure from rising oil prices but it is too early for tariff measures to have an effect. If and when those effects surface, it will be on top of what rising oil prices are already generating.