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

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Inflation cooled to an annual rate of 3.5% in June, as a brief US-Iran ceasefire temporarily lowered energy prices. According to the Bureau of Labor Statistics, the CPI fell 0.4 percent, marking the largest single-month drop in recent history. Core inflation, excluding food and energy, decreased slightly to 2.6%. While stock futures rallied, recent strikes have pushed oil prices back up, increasing average gas prices by 70 cents compared to last year.
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