Today’s Lead Story
Tuesday, July 14Inflation
Inflation Fell Sharply in June — Biggest Monthly Drop Since April 2020
via Bureau of Labor Statistics
Consumer prices fell 0.4% in June, the steepest single-month decline since April 2020, pulling the 12-month inflation rate down to 3.5% from 4.2% in May. A 5.7% plunge in energy costs drove most of the improvement; core inflation held steady at a 2.6% annual rate.
Why it matters
Cooling inflation can slow the rise of everyday costs at the gas pump and grocery store, though the Fed is watching closely to see whether the trend holds before considering any rate cuts.
