June price rises exceed expectations

Brand new inflation numbers show the Consumer Price Index rose a much hotter than expected 9.1% year over year rate last month. The core rate of that CPI number that excludes volatile food and energy prices also came in higher than expected. If there's any consolation it's that today's numbers are relatively backward looking, not recent enough to catch the significant drop that we've seen in US gas prices over the last few weeks. That said, all the recent talk we may be near an inflationary top appears premature yet again. We take a deep dive into the numbers and what they mean for the US economy moving forward.

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