Consumer Prices Rose 0.3% in June

Consumer prices continued to rise in June but at a slower pace and driven largely by a surge in the cost of gasoline, the latest evidence of firming inflationary pressures across the U.S. economy.

The consumer-price index, a broad measure of what Americans pay for everything from breakfast cereal to haircuts, rose a seasonally adjusted 0.3% in June from a month earlier, the Labor Department said Tuesday. Excluding the often-volatile categories of food and energy, the index rose 0.1% from May.