Business
US consumer prices drop in June as energy costs tumble, but annual inflation remains elevated
July 14, 2026 at 05:56 PM
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2 reports · 1 in Arabic, 1 in English · over 12 hours
Consumer prices in the United States fell 0.4 percent in June, driven by cheaper energy, while annual inflation remained at 3.5 percent.
- The Consumer Price Index fell 0.4 percent month-on-month in June, the Department of Labor reported.
- Energy prices dropped 5.7 percent, with petrol prices declining 9.5 percent to an average of $3.85 per gallon.
- White House Deputy Press Secretary Kush Desai said President Trump had predicted that normalizing Strait of Hormuz traffic would cause oil prices and inflation to plummet.
- Fed Chairman Kevin Warsh said the central bank has "no tolerance for persistently elevated inflation."