The Latest Inflation Data Is Good News for the Stock Market. Here's Why.
Inflation decreased from May to June, lowering expectations of a Fed hike.
Overview
The Bureau of Labor Statistics published its latest data on inflation Tuesday morning, and it's giving the stock market a bit of a breather.
The Consumer Price Index rose 3.5% year over year in June, and 2.6% excluding volatile food and fuel prices (so-called "core" inflation). Both are down from May.
Details
And the CPI actually decreased 0.4% in June from the previous month, while core inflation was unchanged. That monthly decline in June was the largest one-month decrease since April 2020.
Source
Originally published at www.fool.com.
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