The US Consumer Price Index rose 9.1% from the previous year, and the interest rate is expected to rise by 1% at the end of this month. The cost of living' index announced that it rose 0.8% compared to May.
"The rise in the consumer price index in the 12-month period ending in June was the fastest since November 1981," the U.S. Department of Labor said in a statement today. "It was responsible for a significant part of the large increase, and shelter and food prices were also major contributors."
Bloomberg reported on the same day that the increase in the CPI for June was higher than the 8.8% expected increase, saying, "A 0.75 percentage point increase is almost certain and there is a possibility of a 1 percentage point increase at the Federal Open Market Committee (FOMC) meeting on the 27th of this month." .
The US Department of Labor said that the 'living cost' index, which accounts for a large portion of personal consumer spending, rose 0.8% from May, the largest monthly increase since April 1986.
Redfin, an American real estate company, announced on the same day that the monthly rent for new apartments rose by 14% compared to the same period last year.
Korea announces a 5% rise in consumer prices and calculates the index minus the cost of living.
The US interest rate is in the range of 1.50% to 1.75%, and if the FOMC increases by 1% at the end of this month, the 0.50-0.75%p difference in interest rates with Korea will be reversed and Korea will reverse the interest rate by 0.25%-0.5%.
The Monetary Policy Committee of the Bank of Korea raised the base rate by 0.50%p from 1.75% to 2.25% on the 13th, and all the media evaluated it as a 'big step'.
The Wall Street Journal reported on the 13th that "US inflation of 9.1% hits a new 40-year high" with a top article titled, "US consumer inflation accelerated to 9.1% in June at a rate not seen in more than 40 years, resulting in sharp prices across the economy. "It has put pressure on the Federal Reserve to act more aggressively to slow the rise."
On the 13th, the Bank of Canada (BOC) raised the benchmark interest rate (the target of inducing overnight interest rates) by 1.0 percentage point and sharply raised it by 2.5%.
In Canada, the inflation rate rose 7.7% in June compared to the same month of the previous year, and the central bank has continued quantitative tightening (QT) since April.
Lee Chang-yong, governor of the BOK, said on the 13th, “The price peak is projected from the end of the third quarter to the beginning of the fourth quarter (this year). It is desirable,” he said, maintaining an interest rate of 2%.
"The U.S. economy continues to expand modestly, but signs of slowing demand are growing against a backdrop of record inflation," the Federal Reserve said in its "Beige Book" report released on Wednesday. It will increase,” he said.“Rising gasoline and food prices are headwinds to private consumption, new car and home sales have been noticeably sluggish, demand for tourism and leisure activities has been strong, and the manufacturing industry has been hit by supply chain disruptions and labor shortages, causing many companies to slash prices,” the Fed report said. The upward pressure on Korea will continue at least until the end of this year.”The Fed's report was prepared as material for consideration at the Federal Open Market Committee (FOMC) meeting to be held on the 26th and 27th.
Deputy Prime Minister Choo Kyung-ho said in a lecture at the Korea Chamber of Commerce and Industry on the 13th that “the price of a table and a shopping cart will be stabilized around October.”