Consumer prices rose again in June
July 13, 2021
Prices increased 0.9 percent in June, a 5.4 percent year-over-year increase, as consumers continue to make purchases at a rapid clip and manufacturers struggle to meet demand. The Federal Reserve Bank and the Biden Administration believe the price hikes are a temporary inflationary blip that will level off next year and into 2023 as supply and demand are aligned.
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