Americans paid much higher prices for goods and services in June compared to a year earlier, as inflation continued to soar, the Bureau of Labor Statistics reported.
The consumer price index is one of the primary measures of inflation. CPI jumped to 9.1% last month from a year ago, above the 8.8% Dow Jones estimate. That marked the fastest pace for inflation in four decades.
Watch this video as CNBC’s Emily Lorsch explains inflation and what causes it.
A passenger passes a giant American flag as they make their way to and from their gates during the Memorial Day weekend getaway at John Wayne Airport Orange County in John Wayne Airport, Santa Ana, CA on Thursday, May 26, 2022. Allen J. Schaben | Los Angeles Times | Getty Images Canadian travel dropped sharply […]
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A worker helps board up windows at Joey and Brenda Bermudez’s home that was damage by a recent tornado at the Elkhorn Ranch neighborhood in Elbert County on May 19, 2025. RJ Sangosti | MediaNews Group | Denver Post | Getty Images Global insured losses for the first half of this year have reached $84 […]
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American Express has long benefited from a focus on wealthier customers who appreciate the credit card company’s travel and dining perks. That has helped insulate the company from concerns over a spending slowdown. In the second quarter, total spending on Amex cards jumped 7%, matching the first quarter and higher than the 6% increase a […]
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