Today’s Lead Story
Tuesday, July 14Inflation
June Prices Fell for the First Time in Two Years, Led by Cheaper Gas
via Bureau of Labor Statistics
Consumer prices slid 0.1% in June from May — the first monthly dip in about two years — pulled lower by a roughly 10% drop in gasoline costs after the U.S. signed a Memorandum of Understanding with Iran. Year-over-year inflation eased to around 3.8% from 4.2% in May, though core prices excluding food and energy held near 2.9%.
Why it matters
Easing headline inflation could support the Fed holding rates steady at its July 28–29 meeting, giving borrowers a brief reprieve from high costs on mortgages, car loans, and credit cards.
