The Consumer Price Index for All Urban Consumers (CPI-U) declined 0.1 percent on a seasonally adjusted basis, after being unchanged in May, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.0 percent before seasonal adjustment.

BLS

BREAKING: Odds of a Fed rate cut by September 2024 skyrocket to 83% after June CPI inflation, according to @Kalshi.

June 2024 marked the first NEGATIVE month-over-month inflation print since May 2020.

Headline inflation is now at a 12-month low and 100 basis points away from… pic.twitter.com/FaCdmRXoYe

— The Kobeissi Letter (@KobeissiLetter) July 11, 2024