U.S. Consumer Price Index Rises 3.5% in June, Slower Than Expected

The U.S. Bureau of Labor Statistics reported that the Consumer Price Index (CPI) rose 3.5% in June compared to the same month last year. This marks a significant slowdown from May's increase of 4.2% and falls below the Dow Jones estimate of 3.8%.

On a month-to-month basis, the CPI decreased by 0.4 percentage points.

Excluding food and energy, the core CPI increased by 2.6% year-over-year in June, remaining unchanged from the previous month.