Inflation eased to 3.5% in June, just before energy prices spiked

Inflation eased to 3.5% in June, thanks to energy prices that fell after the U.S. and Iran signed a memorandum of understanding in a bid to end the ongoing war.

Inflation eased to 3.5% in June, primarily thanks to energy prices that briefly fell after the U.S. and Iran signed a memorandum of understanding in a bid to end the ongoing war.

Subscribe to read this story ad-free

Get unlimited access to ad-free articles and exclusive content.

From May, consumer prices broadly fell 0.4%, more than economists had been expecting.

“This decline in the all items index was the largest 1-month decrease since April 2020,” the Bureau of Labor Statistics said. “The index for energy fell 5.7% in June,” the agency added.