Mumbai, July 16 -- The Labor Department released a report on Tuesday showing consumer prices in the U.S. increased in line with economist estimates in the month of June.
The report said the consumer price index rose by 0.3 percent in June after inching up by 0.1 percent in May.
The modest increase by consumer prices was partly due to a rebound by energy prices, which jumped by 0.9 percent in June after tumbling by 1.0 percent in May. Prices for gasoline shot up by 1.0 percent.
The annual rate of consumer price growth accelerated to 2.7 percent in June from 2.4 percent in July. Economists had expected the price of growth to rise to 2.6 percent.
The Labor Department also said the core consumer price index, which excludes food and energy p...