China's CPI Rises 0.2% in June, U.S. Inflation Falls to 3.0% with Core CPI Up 0.1% MoM

Jul 11, 2024, 12:34 PM

China's Consumer Price Index (CPI) for June rose by 0.2% year-on-year, falling short of the estimated 0.4% and below the previous month's 0.3%. On a monthly basis, China's CPI decreased by 0.2%, compared to the forecasted -0.1% and the previous -0.1%. In the United States, the CPI for June fell by 0.1% month-over-month, marking the first negative print since May 2020, and increased by 3.0% year-over-year, below the expected 3.1%. Core CPI in the U.S. rose by 0.1% month-over-month and 3.3% year-over-year, both below expectations. The core CPI was previously 3.4% year-over-year and 0.2% month-over-month. The decline in U.S. inflation strengthens the case for potential rate cuts by the Federal Reserve.