The Consumer Price Index increased 1.3 in June on a seasonally adjusted basis, after rising 1 percent in May, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the-all items index surged 9.1 — the largest 12-month increase since November of 1981. Gasoline prices were up nearly 60.
The June Cpi number was higher than an anticipated 1.1 monthly and 8.8 annually, meaning the U.S. Federal Reserve will likely continue hiking interest rates at its July and September meetings to tame demand and get inflation under control. Stocks were lower in early trading with the Dow Futures down more than 300 points before market open.
Consumer and companies alike are feeling the pinch. Media and entertainment execs have noted rising inflation in recent months, economic woes have pummeled stocks and are sure to be front and center in showbiz corporate earnings and commentary starting next week. Exchange rates are an issue too with the...
The June Cpi number was higher than an anticipated 1.1 monthly and 8.8 annually, meaning the U.S. Federal Reserve will likely continue hiking interest rates at its July and September meetings to tame demand and get inflation under control. Stocks were lower in early trading with the Dow Futures down more than 300 points before market open.
Consumer and companies alike are feeling the pinch. Media and entertainment execs have noted rising inflation in recent months, economic woes have pummeled stocks and are sure to be front and center in showbiz corporate earnings and commentary starting next week. Exchange rates are an issue too with the...
- 7/13/2022
- by Jill Goldsmith
- Deadline Film + TV
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