Inflation cools in June
CPI data shows modest price increases
Stock market futures rise, Treasury yields fall
The Consumer Price Index (CPI), a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods, rose 3.3% over the last 12 months, according to data released on July 11, 2024.
However, the June report showed a modest decline in prices, with the CPI-U US City Average All Items falling 0.1% seasonally adjusted. This is the first time the CPI has declined since October 2021.
The data has had a positive impact on the stock market, with futures rising in anticipation of a continued slowdown in inflation. Treasury yields have also tumbled, indicating that investors are expecting interest rates to remain low.
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