June’s in­fla­tion rise fastest in six years

Orlando Sentinel - - BUSINESS -

Con­sumer prices rose in June from a year ear­lier at the fastest pace in more than six years, lifted by more ex­pen­sive gas, car in­surance and higher rent. The La­bor De­part­ment said Thurs­day that the con­sumer price in­dex ticked up 0.1 per­cent in June. But in­fla­tion jumped 2.9 per­cent from a year ear­lier, the largest an­nual gain since Fe­bru­ary 2012.

Price gains may in­ten­sify if Pres­i­dent Don­ald Trump makes good on his threat Tues­day to slap tar­iffs on $200 bil­lion of Chi­nese goods, in­clud­ing fur­ni­ture, hats and hand­bags. If im­ple­mented, those du­ties would mean about half of China’s im­ports would be sub­ject to ex­tra du­ties, likely boost­ing costs for con­sumers.

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