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US price spike stabilized in June, income rising

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Washington (AFP) – A key US inflation index climbed four percent in June compared to the same month last year, according to government data released Friday, indicating prices remain high as the economy reopens. But rather than accelerating as economists expected, the 12-month increase in the personal consumption expenditures (PCE) price index was the same as in May, the Commerce Department reported.  However, if the volatile food and energy components are excluded, the index ticked up slightly to 3.5 percent, according to the data. Prices have been increasing in the world’s largest economy as …

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