Bureau of Labor Statistics data show headline CPI inflation at 3.5% year-over-year in June, down from 4.2% in May, with a 0.4% monthly decline. The drop coincided with a 5.7% fall in the energy index and lower gasoline prices. Core CPI eased to 2.6% year-over-year from 2.9% the prior month.
“Supply-side adjustments over demand interventions”
Devil's Advocate
Shared reliance on the Iran memorandum as decisive driver overlooks disputed core figures, unexamined revisions, and whether relief is temporary mean reversion.
“Over-attribution to single geopolitical event without isolating concurrent factors”