Business Latest News: Gasoline Lifts Consumer Inflation in June

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Business Latest News: Gasoline Lifts Consumer Inflation in June

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Business Latest News: Gasoline Lifts Consumer Inflation in June

by Wochit 0:47 mins

Business Latest News: Gasoline Lifts Consumer Inflation in June

by Wochit 0:47 mins

Consumer prices rose more than expected in June as gasoline prices jumped, but underlying inflation pressure remains benign against the backdrop of lukewarm domestic demand. G20 summits don't always set the pulse racing but this week's gathering of finance ministers and central bankers in Moscow has a better chance than most of grabbing the attention of financial markets. A determination by Europe's most powerful central bankers to keep interest rates low might save the continent's fragile banking system from short-term pain but undermines long-term profitability and encourages excessive risk-taking.

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