Big news alert! 🚨📉
Exciting news from the US - inflation took a breather in June, sparking hopes for a potential rate cut. The latest scoop from BlockBeats reports that the core Consumer Price Index (CPI) in the US, which excludes food and energy costs, only nudged up by 0.1% from May, the smallest increase since August 2021.

The data drop on Thursday also revealed that the core CPI rose by 3.3% year-on-year, the slowest climb in over three years. Experts believe the core index paints a clearer picture of inflation trends compared to the overall CPI. This dip in inflation is largely due to falling gasoline prices.

Overall, the CPI saw a 0.1% dip from the previous month and a 3% drop year-on-year, the first annual decrease since the start of the COVID-19 pandemic. This downward trend in the overall CPI has heightened expectations that the Federal Reserve might mull over a rate cut soon as they keep a close eye on economic signals. 📉💼 #CryptoNews #EarnWhileYouWrite