Another big increase in consumer prices last month keeps the Federal Reserve on track to raise its benchmark interest rate by 0.75 percentage point at its meeting later this month.
The consumer-price index rose 9.1% in June from a year earlier, the Labor Department said Wednesday, a 41-year high. The 8.6% rise in the CPI in May added to signs last month that the inflation outlook was worsening and prompted the Fed to accelerate its rate increases at its June meeting.
We are delighted that you’d like to resume your subscription.
You will be charged
$ + tax
(if applicable) for The Wall Street Journal.
You may change your billing preferences at any time in the Customer Center or call
You will be notified in advance of any changes in rate or terms.
You may cancel your subscription at anytime by calling
Please click confirm to resume now.