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US Consumer Price Index falls 0.4 percent in June, first monthly decline since 2020
The Bureau of Labor Statistics reported a 0.4 percent monthly decrease in the Consumer Price Index for June. This marks the first time the gauge has contracted since the 2020 pandemic. This shift brought the annual inflation rate down to 3.5 percent, a drop from the 4.2 percent recorded in May. While the headline figure retreated, the core inflation measure remained unchanged. This suggests that underlying price pressures persist despite the overall decline.
Much of the downward movement stemmed from a 5.7 percent decrease in energy prices over the past year. Market observers noted that the CPI results were far below expectations. This represents the largest single-month drop in inflation since 2020. PRICES FALLING, CPI FAR BELOW EXPECTATIONS!US CPI Falls for the First Time Since 2020, Core Gauge UnchangedInflation has biggest drop since 2020
