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US inflation fell more than expected to 3.5% in June as petrol prices tumbled
US inflation dropped to 3.5% in June, exceeding expectations, driven by falling petrol prices. Traders adjusted their forecasts for Federal Reserve rate hikes as energy cost declines mitigated price increases linked to the Middle East conflict.
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Adjacent reporting
- Inflation cools to 3.5% in June in relief brought by brief US-Iran deal
- Inflation just dropped from 4.2% to 3.5%. Oil prices did that — for now
- Falling gas prices likely cut inflation last month but renewal of Iran war could undo progress
- Falling gas prices likely cut inflation last month but renewal of Iran war could undo progress
- Consumer prices rose 3.5% annually in June, less than expected as energy prices eased
- Inflation slowed in June as energy markets stabilized temporarily