Preview - Falling gas prices seen pulling US June CPI lower, but Fed unlikely to relax

The likely headline decline is almost entirely a gasoline story rather than a genuine broadening of disinflation, which is why the core reading matters more for markets than the top line print. A core rate still running near 2.9% and services inflation accelerating to 3.4% argues the Fed has little basis to relax even as the annual headline number improves…

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