US June inflation data falls below expectations
A woman shops for groceries at El Progreso Market in the Mount Pleasant neighborhood of Washington, D.C., U.S., August 19, 2022. (Reuters Photo)
The eagerly awaited US inflation data has been released. Consumer prices in the U.S. decreased by 0.1% in June compared to the previous month, falling below market expectations with an annual increase of 3%.
In June, consumer prices in the US declined by 0.1% compared to the previous month, marking the first negative inflation since May 2020 amidst a 0.1% decrease.
Year-on-year analysis also showed a decline in inflation to 3% in June.
US inflation falls below expectations
Economists anticipated a 0.1% increase in inflation from the previous month and an annual inflation rate of 3.1% for June.
Core inflation
Core consumer prices rose by 0.1% in June, below the expected 0.2% increase, with an annual increase of 3.3%.
Gold hits record-high
Following this development, gold prices hit a record high. In the free market, the price of gold per gram surpassed ₺2540, reaching an all-time high.
