CPI Inflation Falls to 3% in June, Core Rate Drops to 4.8%; Both Better Than Expected

The U.S. inflation rate as measured by the Consumer Price Index (CPI) slipped to 3.0% on a year-over-year basis in June from 4.0% in May, according to the Bureau of Labor Statistics (BLS) and versus expectations for a dip to 3.1%. On a monthly basis, the CPI was higher by 0.2% in June versus 0.1% in May and expectations for 0.3%.