Inflation Eased in June, but There’s More in the Pipeline The latest numbers on inflation in the United States show a welcome decrease, with the Consumer Price Index (CPI) rising by 3.
5% on an annual basis in June, down from the 4. 2% rate recorded in May. This modest drop is largely attributed to the significant decline in energy prices, which fell by 5. 7% from May to June.
The ceasefire agreement in the Middle East had briefly brought oil prices down, but the recent resumption of hostilities has sent them soaring once more. Brent oil futures rose 9. 6% to close at $83.