U.S. consumer inflation eased in June as falling energy prices helped slow down overall price growth, though inflation remained well above the Federal Reserve's 2-percent target, according to the data released Tuesday by the the U.S. Bureau of Labor Statistics.
The Consumer Price Index (CPI) rose 3.5 percent year on year in June, down from the 4.2-percent increase recorded in May, the data said.
Despite the moderation, the annual inflation rate remained significantly above the Federal Reserve's long-term inflation target of 2 percent, indicating that inflationary pressures continue to persist.
The U.S. Department of Labor said lower energy prices were the largest contributor to the slowdown in headline inflation during the month, offsetting price increases in other categories, including shelter and food.
US June CPI cools as lower energy prices offset broader inflation
US June CPI cools as lower energy prices offset broader inflation
The U.S. military on Wednesday conducted a new round of strikes against Iran, U.S. Central Command said.
"At 3 p.m. ET (1900 GMT), U.S. forces launched operations for a second wave of strikes today against Iran," the command wrote in a post on X. "The strikes are targeting Iranian military capabilities used to threaten vessels freely transiting through the Strait of Hormuz."
Earlier on Wednesday, the command said that it had begun launching a wave of strikes against Iran at 6 a.m. Eastern Time (1000 GMT). During the 90-minute wave, the forces launched precision munitions against coastal defense systems and cruise missile storage and launch sites on Greater Tunb Island.
On Tuesday, the United States conducted a series of strikes against Iran after resuming a naval blockade of its ports in the strait.
Late Tuesday, the U.S. military said it had hit dozens of military targets, including missile and drone sites, naval capabilities, and coastal defense systems, near the Strait of Hormuz and Iranian coastal areas in strikes lasting seven hours.
U.S. launches second wave of Wednesday strikes against Iran
