Invesco global market strategist Brian Levitt gives his take on the state of the economy on ‘Barron’s Roundtable.’
Inflation showed welcome signs of cooling in June, but core prices pointed to strong underlying pressures that are still bubbling beneath the surface – and continuing to burden millions of Americans.
The Labor Department said Wednesday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 0.2% in June from the previous month.
Prices climbed 3% on an annual basis, slightly below the 3.1% increase forecast by Refinitiv economists.
Although inflation has cooled from a peak of 9.1%, it still remains above the Federal Reserve’s 2% target rate.
This is a developing story. Please check back for updates.
