U.S. Inflation
CPI Slips, Then Slides?
The "last mile" of the U.S. Federal Reserve's battle against inflation may have shortened to a last lap after consumer prices fell in June, a long-awaited slowing of shelter cost increases took shape, and markets began pushing down yields on bonds and inflation-protected securities. The consumer price index slid 0.1% last month after being unchanged in May, the Labor Department's Bureau of Labor Statistics said on Thursday. It was the weakest monthly reading since May of 2020, early in the pandemic, while the 3% year-over-year rise was the lowest reading in a year.