Consumer prices rebounded in June, but that's not the whole story

New York (CNN Business) - Consumer prices rose in June after three straight months of declines, as the cost of gas and food increased.

The consumer price index, which measures what Americans pay for everything from clothing to appliances, rose 0.6% last month on a seasonally adjusted basis, the Bureau of Labor Statistics said Tuesday. In May, prices declined 0.1%.
The consumer price index is a closely watched indicator during recessions. The National Bureau of Economic Research said last month that the United States entered a recession in February.
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