U.S. consumer prices fell 0.4% in June, marking the first monthly decline in six years, according to Bureau of Labor Statistics data released Tuesday. The annual Consumer Price Index (CPI) increased 3.5%, while core CPI, which excludes food and energy, was unchanged from May and rose 2.6% year over year. The decline was driven by a nearly 10% drop in gasoline prices, while grocery prices continued to rise.
- Headline CPI declined 0.4% month over month and increased 3.5% from a year earlier.
- Core CPI was unchanged in June and rose 2.6% year over year.
- Gasoline prices posted their largest monthly decline since 2022, falling nearly 10%.
- Grocery prices increased for a third consecutive month, led by beef, eggs, and dairy.
- Computer software and accessories prices rose 2.3% in June and 17.4% from a year earlier.
- U.S. stock futures advanced and Treasury yields declined following the inflation report.
Relevant Companies
- SPDR S&P 500 ETF Trust ($SPY) - Broad equity markets reacted positively as investors reduced expectations for a near-term Fed rate hike.
- United States Oil Fund ($USO) - Lower gasoline prices were the primary driver of June's CPI decline.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
