US annual CPI Inflation jumps to 5.4% in June

Inflation in the US, as measured by the Consumer Price Index (CPI), jumped to 5.4% on a yearly basis in June from 5% in May, the data published by the US Bureau of Labor Statistics revealed on Tuesday.

Excluding volatile food and energy prices, the core CPI rose 4.5%, the largest move for this measure since September 1991 and well above estimates of 3.8%.

On a monthly basis, headline and core prices were up 0.9% vs. estimates of 0.5%.