U.S. inflation generally fell in June, boosting expectations of rate cuts
On July 11, inflation in the United States generally cooled in June, further boosting the confidence of Federal Reserve officials that the Fed may cut interest rates soon. Data from the U.S. Bureau of Labor Statistics showed that the core CPI (excluding food and energy costs) rose 0.1% from May, the smallest increase since August 2021. Data released on Thursday showed that the indicator rose 3.3% year-on-year, also the lowest increase in more than three years. Economists believe that the core indicator is a better reflection of potential inflation than the overall CPI. Dragged down by falling gasoline prices, the overall CPI indicator fell 0.1% from the previous month and 3% from the same period last year, the first decline since the outbreak of the new crown epidemic. (Jinshi)