U.S. Inflation Rate Slows Down More Than Expected in June

The US consumer price inflation rate decreased to 3.5% in June, marking the largest decline since May, but it remains high and indicates ongoing inflationary pressures. Nonetheless, expectations suggest a possible quarter-point increase in interest rates in July, with a 50% chance of a 50 basis point hike due to rising oil prices and Federal Reserve officials' comments hinting at the need to curb inflation.

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