The CPI saw the largest gain since 1982 by jumping 1.1% in June, above the estimate of 0.7%, while at the core level, which excludes food and energy, prices gained 0.3%, a tick above the estimate.
Industrial production rebounded 0.5% in June, above the estimate of 0.1% but the better-than-expected number was a bit misleading. Utility output was up a strong 2.1% because of the hot weather in June. Capacity utilization rose 0.3% to 79.9%, topping the forecast of 79.4%.
Details from Bloomberg...
