U.S. June core CPI up 0.3% on rising rents

Marketwatch reports:

U.S. consumer prices increased a moderate 0.2% in June, the smallest gain in four months, but core inflation rose 0.3% for the fourth straight month, putting pressure on the Federal Reserve to raise interest rates again. The Labor Department said the consumer price index increased 0.2% in June after rising 0.4% in May. Energy prices fell 0.9%, while food prices rose 0.3%. The CPI is up 4.3% in the past 12 months. The core CPI is up 2.6% in the past year, a bit more than the Fed would like. Economists were expecting 0.2% gains in both the headline CPI and the core CPI, which excludes food and energy costs

This should lead to another raising of the Fed Funds target rate on August 8.