Inflation cools to 3.5% in June in relief brought by brief US-Iran deal

Inflation in the US dropped to 3.5% in June as a brief US-Iran ceasefire temporarily reduced energy prices. The ceasefire has since ended, and recent strikes have pushed oil prices higher again, with gas prices up 70 cents per gallon compared to last year. Core inflation, excluding volatile energy and food prices, fell slightly to 2.6%.