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U.S. June CPI falls more than expected as energy drags
June CPI dropped 0.4% month on month, the largest decline since April 2020, while 12-month inflation eased to 3.5% from 4.2% in May.
U.S. inflation cooled more than expected in June, with the Consumer Price Index falling 0.4% month on month, the largest one-month decline since April 2020, according to Action Forex.
On a year-over-year basis, CPI stepped down to 3.5%, from 4.2% in May.
Action Forex said the 5.7% month-on-month drop in energy costs was the main driver of the June decline, reflecting broader softness across the report.
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