U.S. June CPI Falls 0.4% Month-Over-Month, Beating Expectation of 0.1% Decline

According to the U.S. Department of Labor, the Consumer Price Index fell 0.4% month-over-month in June on a seasonally adjusted basis on July 14, significantly better than the market expectation of a 0.1% decline. This marks the largest monthly decline since April 2020. Core CPI, which excludes food and energy, remained flat at 0.0% month-over-month, beating the expected 0.2% increase. Year-over-year, headline CPI rose 3.5%, moderating from May's 4.2% increase, while core CPI grew 2.6%, easing from May's 2.9%. The Labor Department attributed the decline to falling energy prices offsetting increases in housing and food costs.
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