Home›Forex›Major Pairs›US CPI falls to 3.5% in June, pulling the dollar lower

US CPI falls to 3.5% in June, pulling the dollar lower

June CPI eased to 3.5% from 4.2% in May, and the monthly CPI fell 0.4% after a 0.5% rise.

Reported · Written up by our desk · Major Pairs

Annual US inflation as measured by CPI dropped to 3.5% in June from 4.2% in May, according to data reported by the US Bureau of Labor Statistics. The result also came in below the 3.8% expected by markets, shifting the inflation outlook.

On a monthly basis, CPI declined 0.4% in June after rising 0.5% in May. Core CPI was flat month over month, while core inflation rose 2.6% year over year, versus expectations for a 2.8% increase.

FXStreet said the immediate reaction saw the US dollar weaken, with the US Dollar Index down 0.6% to 100.70 at the time of publication. The source noted USD was weakest against the New Zealand dollar among major pairs.

Forexlive’s breakdown showed CPI falling to 3.5% versus the 3.8% consensus and CPI down 0.4% month over month versus -0.1% expected, with core year over year at 2.6% versus 2.8% expected.

Latest closeDollar index 102.12 ▼0.1%

More like this

Sources