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US inflation spikes 0.6% in June on rising gas prices

[WASHINGTON] Consumer inflation jumped in June as the economy began to reopen in most of the country, rising 0.6 per cent and driven by a rebound in gasoline prices, the Labor Department reported Tuesday.

The spike came after two months of declines in the Consumer Price Index amid the shutdowns to contain the coronavirus pandemic.

Gasoline prices had fallen to record lows, but in June jumped 12.3 per cent, according to the report.

Excluding volatile food and energy goods, core CPI rose just 0.2 per cent.

AFP

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