Consumer Price Index Edges Up 0.2% in June: Consumer Price Index Edges Up 0.2% in June
Consumer prices edged up 0.2 percent in June, continuing the nationÛªs extended stretch of low inflation in the midst of a strong economic expansion.</br></br>The Consumer Price Index for the first six months this year rose at a 4.1 percent annual rate, about a percentage point below the expectations of many private economists. For the past three months, consumer prices have risen at a 3.3 percent annual rate.</br></br>The inflation news was hailed by the White House, which is expected to stress the economyÛªs strong growth, low inflation and declining unemployment during the election campaign.</br></br>White House spokesman Larry Speakes said the consumer price figures confirmed other recent government reports of a healthy expansion. ÛÏSince the recovery started 19 months ago, inflation has stayed below 5 percent and 6.8 million more Americans have found jobs. The economy is growing on a solid foundation and todayÛªs inflation rate is the cornerstone.Û</br></br>Private. economists yesterday also said it appeared that inflation should remain below the 5 percent growth level at least through the end of the year. However, inflation has been slowly creeping up since it reached its lowest levels last year.