In June, US core Consumer Price Index (CPI) rose by 2.9% YoY and 0.2% MoM, missing expectations of 3.0% and +0.3% respectively. Overall, US CPI met consensus at +2.7% YoY and +0.3% MoM. Despite falling short of expectations, the uptick in inflation data may influence the Fed’s monetary policy. Market reaction saw a 0.22% increase in S&P 500 futures, a 0.08% drop in DJIA futures, and a 0.15% decrease in Gold prices. The report suggests that inflation is rising more slowly than anticipated, with no significant impact from trade tariffs observed yet.

Read more at Investing.com: US Core CPI Miss Extends Dovish Streak, Fed Seen Holding Policy Steady