U.S. consumer inflation eased in June more than analysts forecasted, government data showed Tuesday, as energy prices declined momentarily last month following a preliminary memorandum between U.S. and Iran deal to end the Middle East war.
The consumer price index (CPI) rose by 3.5% on a yearly basis, down from a 4.2% increase in May, said the Labor Department.
The figure marked a pullback from a three-year high in inflation.
Analysts had anticipated a larger 3.8% uptick, according to economists surveyed by Dow Jones Newswires and The Wall Street Journal (WSJ).
But the cooldown is unlikely to entirely ease worries over costs.
