The Labor Department released a highly anticipated report on Wednesday showing U.S. consumer prices surged by more than expected in the month of June.
The report showed the consumer price index shot up by 1.3 percent in June after jumping by 1.0 percent in May. Economists had expected consumer prices to leap by 1.1 percent.
With the bigger than expected monthly increase, the annual rate of consumer price growth accelerated to 9.1 percent in June, reflecting the fastest growth since November 1981.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.