The price of a broad array of goods and services edged higher in June to generate the biggest increase in consumer prices in four months. The consumer price index rose by a seasonally adjusted 0.5 percent last month, the Labor Department said on Tuesday.
The cost of energy rose 3.4 percent in June. Gas prices, which barely rose at the pump, showed a 6.3 percent spike on a seasonally adjusted basis. Normally prices fall in June but that didn’t happen this year, accounting for the large increase.
— From wire reports