Inflation falls to 3.5% in June in the United States due to the drop in energy prices
Inflation fell more than expected throughout June in the United States, standing at 3.5% on an annualized basis. This significant decline was contributed to by the drop in oil prices due to the ceasefire in the Iran war, which helped contain the rise in the cost of living for Americans, after three months of sharp increases due to the conflict launched in the Middle East by President Donald Trump last February.