US Consumer Prices Show Modest Gains, But Inflation Remains Below Expectations
TL;DR Summary
US consumer prices rose modestly in June, with the consumer price index (CPI) increasing by 0.2% and the core CPI (excluding food and energy) also gaining 0.2%. The year-on-year CPI climbed 3.0%, the smallest rise since March 2021, while the core CPI rose 4.8%, the smallest gain since October 2021. The slowdown in underlying inflation has led to speculation that the Federal Reserve may pause its interest rate hikes. However, inflation remains above the Fed's 2% target, and the labor market remains tight.
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