US inflation spiked in June. Can this really still be transitory?

US inflation spiked unexpectedly in June, raising the prospect that this isn't just a transitory post-pandemic phenomenon. Saloni Sardana looks behind the figures.

US used car salesman
SEcond-hand car prices have shot up in the US
(Image credit: © Angus Mordant/Bloomberg via Getty Images)

Inflationistas received their latest sign on Tuesday that the US economy is overheating and inflation may not be so transitory after all.

Consumer prices rose 0.9% between May and June, said the Bureau of Labor Statistics showed.

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Saloni Sardana

Saloni is a web writer for MoneyWeek focusing on personal finance and global financial markets. Her work has appeared in FTAdviser (part of the Financial Times),  Business Insider and City A.M, among other publications. She holds a masters in international journalism from City, University of London.

Follow her on Twitter at @sardana_saloni