US headline CPI slowed to 1.6% yoy in June, down from 1.8% yoy, matched expectations. But that was mainly due to a drag from energy price index, which dropped -3.4% yoy.

On the other hand, CPI core accelerated to 2.1% yoy, up from 2.0% yoy, beat expectation of 2.0% yoy. Also, over the month, CPI core rose 0.3% mom, largest monthly rise since January 2018.

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