Inflation cooled off more than expected in June

• The consumer price index increased 3.0% in June from a year earlier.
• It was expected to cool off slightly — from a year-over-year increase of 3.3% to 3.1%.
• CPI declined 0.1% month-over-month.

The consumer price index rose 3.0% year-over-year in June, the lowest headline year-over-year rate in a year.

The expected increase noted on Investing.com was 3.1%.

Inflation had been cooling for the previous few months; the CPI rose 3.3% for the 12 months ending May, down from the 3.4% increase in April and the 3.5% increase in March.