U.S. consumer prices rose more than expected in June as gasoline prices jumped, but underlying inflation pressure remain benign against the backdrop of lukewarm domestic demand.
The Labor Department said on Tuesday its Consumer Price Index increased 0.5 percent, the largest increase since February, after nudging up 0.1 percent in May. Gasoline prices accounted for about two thirds of the increase in the CPI.
Economists polled by Reuters had expected consumer inflation to increase 0.3 percent last month.