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US CPI Falls 0.4% June, Inflation 3.5%, Hike Odds Down

7/14/2026

42 9 Full Breakdown

Summary

Story summary

The U.S. consumer price index fell 0.4% in June 2026, the steepest monthly decline since April 2020, as energy prices dropped sharply.
The annual inflation rate slipped to 3.5% while the core inflation rate remained flat at a 12-month pace of 2.6%.
Traders cut the probability of a September Federal Reserve (Fed) rate hike to 63% after the report.
Treasury yields fell sharply following the CPI decline.

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Story summary

The U.S. consumer price index fell 0.4% in June 2026, the steepest monthly decline since April 2020, as energy prices dropped sharply.
The annual inflation rate slipped to 3.5% while the core inflation rate remained flat at a 12-month pace of 2.6%.
Traders cut the probability of a September Federal Reserve (Fed) rate hike to 63% after the report.
Treasury yields fell sharply following the CPI decline.