00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Consumer prices rose 3.5% in June from a year earlier, cooling from May's 4.2% increase
00:08and coming in below analysts' 3.8% forecast, according to the Wall Street Journal.
00:14Higher energy prices following the start of the Iran War have been the main driver of
00:18rising costs.
00:19Oil markets eased during June, but renewed fighting pushed the benchmark U.S. oil price
00:24up 12% in July through Monday.
00:26Core inflation remained stubborn, raising concerns that AI infrastructure investment
00:31and Trump's tariffs could keep prices elevated.
00:34The renewed inflation pressure has prompted some Federal Reserve officials to consider
00:38raising interest rates.
00:39Governor Christopher Waller said the June data could influence whether the Fed considers
00:44a hike at its July meeting.
00:46The Fed's preferred inflation measure stood at 4.1% in May, well above its 2% target.
00:52For all things money, visit Benzinga.com.
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