Visual brief World 3 sources

U.S. Energy Price Drop Pulled CPI Inflation to 3.5%

In June, lower U.S. energy prices cut CPI by 0.4%, briefly easing household fuel costs

Jul 14, 2:08 PM EDT Cross-checked across 3 sources

Briefing view

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What happened: In June, lower U.S. energy prices cut CPI by 0.4%, briefly easing household fuel costs.
Why it matters: Gas averaged $3.85 a gallon, down from $4.07 a month earlier, a direct household-facing part of the decline.
What to watch: The relief may prove temporary: fighting hit commercial tankers, and average gasoline prices rose from $3.79 last week.

Reporting behind this brief, checked before publication.

Brief text

The Consumer Price Index fell to a 3.5 percent annual increase in June, and prices marked their biggest drop from a month earlier since 2020.

Frame 1In June, lower U.S. energy prices cut CPI by 0.4%, briefly easing household fuel costs.
Frame 2Energy prices fell 5.7%; oil dropped 9.7% and gasoline 9.5%, pulling down the headline index.
Frame 3That brought annual CPI inflation to 3.5%, below economists' 3.8% forecast and May's 4.2% reading.
Frame 4Core inflation, excluding food and energy, was flat for the month and 2.6% higher than a year earlier.
Frame 5Gas averaged $3.85 a gallon, down from $4.07 a month earlier, a direct household-facing part of the decline.
Frame 6The relief may prove temporary: fighting hit commercial tankers, and average gasoline prices rose from $3.79 last week.

How this was checked

Reporting: Cross-checked across 3 sources
Claims: We checked the names, dates, numbers, and core facts against the reporting linked above
Artwork: This is an editorial illustration based on the reporting, not source photography
Published: Jul 14, 2:08 PM EDT
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