United States: Inflation eases in June from the prior month
Latest reading: Consumer prices increased 3.5% on a year-on-year basis in June, following a 4.2% rise in the previous month.
Relative to the previous month’s data, there were reduced price pressures for housing (+3.3% on a year-on-year basis vs +3.4% in May), transportation (+6.2% vs +8.9% in May), food (+3.0% vs +3.1% in May) and energy (+15.5% vs +23.0% in May).
Meanwhile, core consumer prices were up 2.6% on a year-on-year basis in June, following a 2.9% increase in the previous month.
Finally, consumer prices were down 0.42% in June in month-on-month terms, following a 0.47% increase in the previous month.