(MENAFN) The latest data released on Tuesday by the Bureau of Labor Statistics shows that the US consumer price index (CPI) for June exceeded market forecasts, signaling mounting inflationary pressures. The annual inflation rate rose to 2.7%, outpacing economists’ expectations of 2.6%.

In June, the food price index experienced a notable increase of 3%, reflecting rising costs for consumers, while the energy index dropped by 0.8% on a year-over-year basis, partially offsetting overall inflation.

On a monthly basis, prices increased by 0.3%, which was exactly in line with analysts’ projections. The shelter index, which climbed 0.2% in June, emerged as the primary driver behind the overall monthly CPI rise, underscoring ongoing challenges in housing affordability.

This data highlights continued inflationary pressures across key sectors, maintaining focus on economic stability as policymakers monitor price trends closely.

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