“The Consumer Price Index for All Urban Consumers declined 0.1 percent on a seasonally adjusted basis, after being unchanged in May, the US Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.0 percent before seasonal adjustment. The index for gasoline fell 3.8 percent in June, after declining 3.6 percent in May, more than offsetting an increase in shelter. The energy index fell 2.0 percent over the month, as it did the preceding month. The index for food increased 0.2 percent in June. The food away from home index rose 0.4 percent over the month, while the food at home index increased 0.1 percent” says the Bureau of Labor Statistics’s monthly Consumer Price Index Summary for June 2024, showing inflation continuing to cool.
Stock futures jumped across all major indexes as the CPI was 0.2 percent lower than the Dow Jones survey of economists while the core’s 0.1 percent increase beat an expected 0.2 percent, per CNBC.