The Guardian · US news · Original story
Inflation cools to 3.5% in June in relief brought by brief US-Iran deal
Recent strikes have sent oil prices climbing again, with average gas price per gallon up by 70 cents on last year
Inflation cooled to an annual rate of 3.5% in June as the brief US-Iran ceasefire, which has since ended, brought energy prices down, according to new data from the Bureau of Labor Statistics.
The consumer price index (CPI), which measures a basket of goods and services, has been elevated since the start of the war, largely because of higher energy prices. After mostly staying under 3% since mid-2024, CPI reached a three-year high of 4.2% in May – up from 2.4% in February. Month-over-month, CPI fell 0.8% in June, the largest one-month decrease since April 2020.
Continue reading...
Gaya Gupta · Tue, Jul 14, 2026, 6:29 AM
US news | The Guardian
Recent strikes have sent oil prices climbing again, with average gas price per gallon up by 70 cents on last year
Inflation cooled to an annual rate of 3.5% in June as the brief US-Iran ceasefire, which has since ended, brought energy prices down, according to new data from the Bureau of Labor Statistics.
The consumer price index (CPI), which measures a basket of goods and services, has been elevated since the start of the war, largely because of higher energy prices. After mostly staying under 3% since mid-2024, CPI reached a three-year high of 4.2% in May – up from 2.4% in February. Month-over-month, CPI fell 0.8% in June, the largest one-month decrease since April 2020.
Continue reading...This page shows an excerpt; reporting belongs to the original publisher. Some images or embeds may be omitted compared with the live article.
← More stories · Front page
