US inflation falls 0.1% in June from prior month
US inflation cools again, potentially paving way for Fed to cut interest rates soon

US inflation cools again, potentially paving way for Fed to cut interest rates soon
Data may bolster Fed’s resolve to hold interest rates steady throughout the spring
US inflation was 6.5% over the 12 months to the end of December, down from 7.1% in November, the US Labor Department said.
Consumer prices surged 8.3% in August compared with a year earlier, the government said Tuesday, down from an 8.5% jump in July and a four-decade high of 9.1% in June. On a monthly basis, prices rose 0.1%, after a flat reading in July.
Falling gas prices gave Americans a slight break from the pain of high inflation last month, though the surge in overall prices slowed only modestly from the four-decade high it reached in June.