US inflation misses forecasts with unchanged growth in June

US inflation remained unchanged in June at an annualised 1.0%, missing forecasts for 1.1% growth, official data revealed on Friday.

On a month-on-month comparison, the consumer price index rose at the same rate as the previous month in June by 0.2%, below estimates for a 0.3% gain.

The Labor Department said a 1.3% rise in energy prices offset a 0.1% fall in food.

Excluding food and energy, inflation rose 2.3% year-on-year in June, compared to estimates for the consumer price index to remain unchanged at 2.2%. Core CPI on a month-on-month basis increased 0.2% in June, in line with estimates and unchanged from May.

Inflation, less food and energy, last month was driven by increased prices in medical care, education, airline fares, motor vehicle insurance, and recreation. In contrast, prices of used cars and trucks, apparel, communication, and household furnishings and operations declined.