The latest data from the Commerce Department indicates that the Federal Reserve's preferred inflation measure stayed low last month, signaling a gradual cooling of price pressures. This development is seen as paving the way for the Fed to potentially start reducing interest rates in the upcoming fall season.
In June, prices saw a modest 0.1% increase compared to May, following a flat reading in the previous month. Year-on-year inflation dipped from 2.6% to 2.5%. Excluding volatile food and energy prices, core inflation rose by 0.2% from May to June, with a 2.6% increase from the same period last year.
