July US Consumer Prices Show Stronger-Than-Expected Rise... Second Consecutive Month of Increase
[Asia Economy New York=Correspondent Baek Jong-min] The U.S. Department of Labor announced on the 12th (local time) that the Consumer Price Index (CPI) for July rose by 0.6% compared to the previous month.
This significantly exceeded experts' expectations of 0.3%. It overturned predictions that the inflation rate would decrease due to the resurgence of the novel coronavirus (COVID-19).
Hot Picks Today
!["Not Everyone Can Afford This: Inside the World of the True Top 0.1% [Luxury World]"](https://cwcontent.asiae.co.kr/asiaresize/93/2026051507261063923_1778797570.png)
"Not Everyone Can Afford This: Inside the World of the True Top 0.1% [Luxury World]"
- "Now Our Salaries Are 10 Million Won a Month" Record High... Semiconductor Boom Drives Performance Bonuses at Major Electronic Component Firms
- While All Eyes Were on Samsung and Hynix, This Company Surged 50% to New Highs in Four Days [Weekend Money]
- Train and Bus Collide in Bangkok, Thailand: At Least 8 Dead, Over 30 Injured
- Experts Already Watching Closely..."Target Price Set at 970,000 Won" Only Upward Momentum Remains [Weekend Money]
As a result, the U.S. inflation rate continued its upward trend for the second consecutive month. Previously, from March for three months, prices had been declining due to the impact of COVID-19, raising concerns about deflation.
![[Image source=AP Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2020081223460322592_1597243564.jpg)
The core consumer price index for July, excluding energy and food, also rose by 0.6% compared to the previous month. MarketWatch described the 0.6% increase in the core CPI excluding energy and food as the highest record since 1991.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
