Inflation Cooled in June, and There's Good and Bad News for Investors
U.S. inflation cooled in June with headline CPI down 0.4% month-over-month, the largest decline since April 2020, primarily due to falling energy prices. While this reduces pressure on consumers and lowers Fed rate hike expectations, the ceasefire between the U.S. and Iran that drove oil prices down collapsed in early July, causing crude prices to spike back to around $88 per barrel, threatening renewed inflationary pressures.
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