India, July 14 -- The U.S. Labor Department released the latest inflation report on Tuesday. The report showed that inflation cooled in June, giving the Federal Reserve more confidence that price pressures are easing. Consumer prices fell 0.4% from May to June, marking the biggest monthly drop in inflation in four years.

On a yearly basis, inflation slowed to 3.5% in June, down from 4.2% in May, showing that price growth is continuing to slow. The drop in inflation was mainly helped by lower prices for gasoline, clothing and used cars, the report showed. White House National Economic Council Director Kevin Hassett said falling energy prices were expected, but added that several other prices also declined because of President Donald Trump...