June CPI Print Reflects Low Inflationary Pressure

The June CPI print revealed a lower-than-expected inflation rate, with the headline CPI dropping month-over-month. Owner's equivalent rent, which had been stable, also showed a slowdown, indicating a return to pre-pandemic levels of increase. Factors such as healed supply chains and reduced consumer spending are contributing to decreased inflationary pressures. Furthermore, prices of items like used cars, which surged during the pandemic, are now declining. Overall, the data suggests minimal inflationary pressure in the current economic environment.