Inflation Drops to 3.5% in June Amid Temporary US-Iran Ceasefire
The U.S. inflation rate fell to 3.5% annually in June, driven by a temporary ceasefire between the U.S. and Iran that lowered energy prices. The consumer price index (CPI) saw its largest monthly decline since April 2020 due mainly to falling gasoline and fuel oil costs.
Topics: CPI energy prices inflation US-Iran relations