WASHINGTON (Reuters) – U.S. consumer prices rebounded in June after three straight monthly declines as businesses reopened, but the underlying trend suggested inflation would remain muted and allow the Federal Reserve to keep injecting money into the ailing economy.
The Labor Department said on Tuesday its consumer price index increased 0.6% last month after easing 0.1% in May. In the 12 months through June, the CPI climbed 0.6% after gaining 0.1% in May, which was the smallest year-on-year rise since September 2015.
Economists polled by Reuters had forecast the CPI increasing 0.5% in June and advancing 0.6% year-on-year.
(Reporting by Lucia Mutikani; Editing by Andrew Heavens)
