June CPI drops to 3.5% as energy slump eases inflation pressure
June's CPI fell 0.4% month‑over‑month, trimming annual inflation to 3.5%—below the 3.8% consensus. The dip was driven by a 5.7% plunge in energy prices, but core inflation stayed flat at 2.6%, leaving the Fed likely to hold off on rate cuts and consider another hike in September.