The consumer price index rose at a seasonally adjusted 0.5% for the month, putting the annual inflation rate at 4.2%, both in line with expectations. The core CPI accelerated 0.2% for the month and 2.9% from a year ago. While the annual rate was in line with the forecast, the monthly gain was below the 0.3% estimate. The report indicated that much of the inflation surge came from a 3.9% jump in energy prices, putting the 12-month increase at 23.5%. Core commodities prices actually posted a 0.1% decline.
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