US cpi falls for the first time since 2020, core gauge unchanged

US consumer prices declined in June for the first time in six years and a key gauge of underlying inflation was little changed, taking some pressure off the Federal Reserve to raise interest rates.

The consumer price index fell 0.4% from May and was up 3.5% from a year earlier, according to Bureau of Labor Statistics data out Tuesday. Excluding food and energy, the index was flat from May and up 2.6% from a year earlier.

Metric
Actual
Estimate

CPI MoM
-0.4%
 -0.1%

Core CPI MoM
0.0%
 +0.2%

CPI YoY
+3.5%
 +3.8%

Core CPI YoY
+2.6%
 +2.8%

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