US inflation generally declined in June, boosting expectations of interest rate cuts
Inflation in the United States cooled in June, further boosting the confidence of Federal Reserve officials that the Fed may soon cut interest rates. Data from the US Bureau of Labor Statistics shows that the core CPI (excluding food and energy costs) rose by 0.1% from May, marking the smallest increase since August 2021. The data released on Thursday showed that this index rose by 3.3% year-on-year, also the lowest increase in over three years. Economists believe that the core index can better reflect underlying inflation than the overall CPI. Dragged down by falling gasoline prices, the overall CPI index fell by 0.1% from the previous month and by 3% from the same period last year, marking the first decline since the outbreak of the COVID-19 pandemic
Jin10 Data, July 11th news: In the United States, inflation cooled down in June, further boosting the confidence of Federal Reserve officials that the Fed may cut interest rates soon. Data from the US Bureau of Labor Statistics shows that the core CPI (excluding food and energy costs) rose by 0.1% compared to May, marking the smallest increase since August 2021. The data released on Thursday showed that this index rose by 3.3% year-on-year, also the lowest increase in over three years. Economists believe that the core index can better reflect underlying inflation than the overall CPI. Due to the drag from falling gasoline prices, the overall CPI index decreased by 0.1% from the previous month and by 3% from the same period last year, marking the first decline since the outbreak of the COVID-19 pandemic