The core index that omits energy and food costs also rose by 0.3% in June, but the annual rate ticked up to 2.8% from 2.7% and slightly above forecasts. Personal spending rose by 0.3%, below the 0.4% forecast but still suggesting consumers are willing to continue shopping.

The central bank this week kept interest rates steady for a fifth-straight meeting, prompting the first double dissent from members of the powerful Board of Governors since 1993.

The two Federal Reserve governors who favored an interest rate cut at the U.S. central bank's policy meeting this week said on Friday they did so largely due to rising concerns about the job market, in statements made public just ahead of the release of hiring data that bolstered their position.

If you look at the labor market, what you see is, by many, many statistics, the labor market is kind of still in balance,” Powell said. While demand for workers is slowing, t

The two Federal Reserve governors who favored an interest rate cut at the U.S. central bank's policy meeting this week said on Friday they did so largely due to rising concerns about the job market, amid expectations that any price increases related to trade tariffs will not lead to lasting price pressures.