July 30 (UPI) -- A key signal that measures inflation in the United States increased by nearly 4% during the month of June, the Commerce Department said Friday.
That's the highest 12-month increase since 1991.
The figure, however, was largely in line with what most analysts expected (3.6%).
The Fed has said in the past that the rise of inflation is temporary, and a reflection of economic growth since the start of the coronavirus pandemic.
Friday's report said personal income rose 0.1% in June and disposable income fell less than 0.1%. Overall personal consumption expenditures increased 1%.
The report noted that pharmaceuticals, gasoline and non-durable goods aided in the inflation rise.