Personal consumption expenditures, the Federal Reserve's preferred marker of inflation, fell for the first time in six years in June, the BEA reports.

Inflation fell last month for the first time in six years, new data showed Thursday, but the seemingly welcome reading is likely a temporary blip.

US headline inflation cooled in June 2026 with the PCE declining 0.1% from the previous month and the annual rate slowing to 3.7% from 4.1%.