Inflation in June fell to its lowest annual rate in over two years, with the consumer price index rising 3% from a year ago, the lowest level since March 2021. On a Monthly Basis, the index increased by 0.2%, less than expected. The core CPI, which excludes volatile food and energy prices, rose 4.8% from a year ago and 0.2% on a monthly basis. While the numbers could give the Federal Reserve some breathing room, as Inflation has fallen, core inflation is still running well above the Fed's 2% target. Wall Street reacted positively to the report, with futures tied to the Dow Jones Industrial Average up nearly 200 points.

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