U.S. consumer inflation slowed more than expected in June, with the Consumer Price Index rising 3.5% from a year earlier and falling 0.4% month over month, according to the Bureau of Labor Statistics. Economists polled by Reuters had expected a 3.8% annual increase and a 0.1% monthly decline, Reuters reported.
The June monthly drop was the largest since April 2020, driven mainly by a 5.7% decline in the energy index and a 9.7% fall in gasoline prices.Core CPI, excluding food and energy, was unchanged on the month and rose 2.6% year over year, down from 2.9% in May.S&P 500 futures turned positive after the data, with Reuters reporting S&P 500 E-minis up 0.48% at 8:33 a.m. ET.FactSet said the median forecast before the release was 3.8% year-over-year headline CPI.Relevant Companies
None found
