US consumer inflation slows to 3.5% in June
US consumer inflation slowed more than expected to 3.5% year-on-year (YoY) in June, but remained above the Federal Reserve's 2% target, according to data released Tuesday by the Bureau of Labor Statistics.
Meanwhile, the CPI recorded its largest monthly decline since April 2020, falling 0.4% in June, with fuel prices dropping 9.7% month-on-month.
This decline in fuel prices followed the memorandum of understanding signed last month by Washington and Tehran, which led to a drop in oil prices, before renewed military strikes between the two sides this month following the collapse of the ceasefire agreement.
|
US CPI – June 2026 (%) |
||||
|
CPI |
Expectations |
May |
June |
Change |
|
Annual Core |
2.8 |
2.9 |
2.6 |
(0.3) |
|
Monthly Core |
0.2 |
0.2 |
0.0 |
(0.2) |
|
Annual Headline |
3.8 |
4.2 |
3.5 |
(0.7) |
|
Monthly Headline |
(0.1) |
0.5 |
(0.4) |
(0.9) |
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