The June U.S.Tá Commerce Department’s Consumer Price Index (CPI) report delivered a significant downward surprise. Energy inflation fell markedly more than predicted, pulling the month‑over‑month price index down 0.4% versus the consensus estimate of −0.1%. Year‑over‑year inflation slowed from 4.2% to 3.5%, running below the projected 3.8%. Core price pressures were also weaker than feared, with month‑on‑month core inflation remaining аҭоурых flat.