TNBiz (TNBiz)
Macroeconomics  |  July 14, 2012 09:15:48

The United States shall notify the details of the June inflation

WASHINGTON (MEDIAFAX) - U.S. Department of Labor on Tuesday published data on the June inflation in the U.S.. In May, the month, consumer prices in the United States decreased by 0.3 percent, which was the biggest decline since December 2008.

The decrease in consumer prices in May contributed mainly by the lower fuel prices. Annual inflation in May was 1.7 percent.

Gasoline prices in May fell by 6.8 percent, the highest since December 2008. Food prices remained unchanged. Excluding volatile food and energy price inflation was 0.2 percent.

The core inflation mainly contributed to steady growth in rents and housing. Rents are increasing as more and more people losing their homes and housing rents. Also increased prices of used cars, health care costs, prices of clothing and airline tickets.

The U.S. economy in the first quarter of this year increased by the revised data of 1.9 percent QoQ, while the result was in line with analysts' expectations. Ministry of Commerce of the United States and confirmed its previous estimate refined. In his very first estimate of the Ministry of Commerce announced even grow by 2.2 percent. In the last quarter of last year, U.S. gross domestic product (GDP) grew by three percent equals, in the first three months of this year slowed down significantly.

Consumer spending, which accounts for roughly 70 percent of U.S. economic activity, in the first quarter of this year grew by revised Commerce Department data "only" 2.5 percent, while the ministry originally reported increase of 2.7 percent.

The U.S. central bank Federal Reserve has recently deteriorated sharply growth outlook for the local economy this year. The local gross domestic product (GDP), according to updated forecasts will not increase by more than 2.4 percent, while the Fed allowed for earlier 2.9 percent growth.

Tomáš Králíček,

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