WASHINGTON (dpa-AFX) - The Labor Department released a report on Tuesday showing consumer prices in the U.S. increased in line with economist estimates in the month of June.
The report said the consumer price index rose by 0.3 percent in June after inching up by 0.1 percent in May.
The annual rate of consumer price growth accelerated to 2.7 percent in June from 2.4 percent in July. Economists had expected the price of growth to rise to 2.6 percent.
The Labor Department also said the core consumer price index, which excludes food and energy prices, edged up by 0.2 percent in June after creeping up by 0.1 percent in May. Core prices were expected to increase by 0.3 percent.
The report said the annual rate of core consumer price growth ticked up to 2.9 percent in June from 2.8 percent in May, in line with economist estimates.
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