US consumer inflation cooled more than expected in June as energy costs fell on a temporary easing of the US-Iran war, government data showed Tuesday, but renewed hostilities could stoke price pressures.The consumer price index (CPI) rose by 3.5 percent on a year-on-year basis in June, down from a three-year high of 4.2 percent in May, the Labor Department said.
A drop in energy costs had more than offset upticks in housing and food prices.
Trump touted the report, saying: "Prices are coming way down, and we're going to bring them much lower yet."
"Remember that for the midterms," he added, invoking voters' concerns over rising costs ahead of the November midterm elections.
Analysts had anticipated inflation to hit 3.8 percent, according to a survey by Dow Jones Newswires and The Wall Street Journal.
