After rising 4% year-over-year in May, US inflation continued its descent last month, increasing 0.2% to an annualized 3%— slightly above forecasts calling for a print of 3.1%. Core CPI, which does not account for food and energy, was up 4.8% over the past 12 months, slightly below the prior month’s 5.3% and lower than expectations of 5%.

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