Consumer Inflation Hits 6-Year High, CPI Shows

The numbers: Consumer prices rose in June at the highest yearly rate since 2012, reflecting a U.S. economy that’s running hotter than anytime since the Great Recession.

The increase in the cost of living rose to a 12-month pace of 2.9% from 2.8%, marking the highest level in more than six years, the government said Thursday. A year ago the 12-month rate stood at just 1.6%.

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Jeffry Bartash