US June CPI Rises 3.5% YoY; Core CPI Up 2.6%, Labor Department Data Show

U.S. consumer prices rose 3.5% year on year in June, while core CPI excluding food and energy increased 2.6%, according to data released by the U.S. Department of Labor on July 14, 36Kr reported. Analysts said the June CPI increase eased from May's 4.2% pace, citing a pullback in international oil prices after the U.S. and Iran reached a memorandum of understanding in mid-June. Deutsche Bank forecast the Federal Reserve will raise rates by 25 basis points in September and December, taking the federal funds rate to 4.1%, and then keep it unchanged throughout 2027.