Consumer price inflation (CPI) accelerated in June, with headline inflation up 0.9% from the previous month and 5.3% higher than a year ago and the biggest y/y increase in consumer prices since 2008. Broader inflation for June was higher than analysts expected, with the consensus forecast at +0.5% m/m. Reopening of the economy clearly has helped bolster inflation figures as prices for lodging, rental cars and airfares have increased substantially. Higher prices for vehicles, both new and used, also added to June price inflation.
