The Economic Times

US consumer inflation likely increased at a slow pace in June as gasoline prices retreated

U.S. consumer inflation probably slowed in June, but rate hikes remain possible. Gasoline prices retreated from highs after a fragile ceasefire took hold. This truce collapsed, causing prices to reverse course and rise again. Higher food prices are also expected due to conflict and weather conditions. Core inflation, excluding food and energy, showed moderate increases.