Consumer Prices Cooled Last Month—Down From 3-Year High As Gas Prices Eased

Topline

Inflation cooled faster than expected in June, with a brief peace deal between Iran and the U.S. lowering oil prices, according to federal data published Tuesday, as Federal Reserve officials suggested long-term price increases would soon be a “thing of the past.”

Key Facts

Consumer prices rose 3.5% from June 2025 and dropped 0.5% from May and June, the Bureau of Labor Statistics reported, well below consensus analyst estimates of a 3.9% annual increase, according to FactSet.

That’s the largest month-to-month decline in consumer prices since April 2020 (0.8%), according to the agency.

The price of gas fell 9.7% from May to June, the…

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