US Inflation Eases to 3.5% in June, Beats Forecasts — SkimNews
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- Consumer prices rose 3.5% year-over-year in June, improving from May's 4.2% rate and beating the 3.8% that Wall Street Journal–polled analysts had forecast.
- Gasoline prices dropped substantially from May, providing the main downward pull on the headline figure.
- Core inflation (excluding food and energy) was broadly flat month-over-month, evidence that underlying price trends improved across the broader economy.
- Oil prices rebounded after the collapse of the Iran ceasefire, a reversal the report says means July's CPI 'won't bring as much good news as June.'
- Kevin Warsh pledged in an opening statement to Congress to bring inflation down, per the article's photo caption.
Why it matters: The 3.5% June print (down from 4.2% in May, below the 3.8% consensus) is a rare headline beat for American consumers, but the report itself flags that the post-Iran-ceasefire oil rebound threatens to erase July's gasoline tailwind — making the disinflation path Warsh promised Congress harder, not easier.
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