US Inflation Slips, Monthly Figure Most Negative in Six Years
US inflation came in softer than expected, with the monthly reading turning negative for the first time in six years, driven largely by falling energy prices.
US inflation data released yesterday came in softer than anticipated, with the monthly figure posting a negative reading—the most negative in six years. The decline was primarily attributed to a drop in energy costs.
This development suggests cooling price pressures, which could influence the Federal Reserve's monetary policy stance. Market participants are now pricing in a higher probability of rate cuts later this year.
Source: FXStreet Forex News