US consumer prices drop in June as energy costs tumble
- Inflation eased due to cheaper energy, but experts warn price increases may return after renewed US-Iran tensions.
- Consumer prices in the United States tumbled in June as energy prices fell, led by cheaper petrol, after concerns in global energy markets over the Strait of Hormuz temporarily eased.
- Prices fell by 0.4 percent on a monthly basis, according to the Department of Labor’s Bureau of Labor Statistics Consumer Price Index (CPI) released on Tuesday.
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- Inflation eased due to cheaper energy, but experts warn price increases may return after renewed US-Iran tensions.
- Consumer prices in the United States tumbled in June as energy prices fell, led by cheaper petrol, after concerns in global energy markets over the Strait of Hormuz temporarily eased.
- Prices fell by 0.4 percent on a monthly basis, according to the Department of Labor’s Bureau of Labor Statistics Consumer Price Index (CPI) released on Tuesday.
Sources: Al Jazeera