U.S. Consumer Prices Fall Much More Than Expected In June

India, July 14 -- Largely reflecting a sharp pullback in energy prices, the Labor Department released a report on Tuesday showing consumer prices in the U.S. decreased by much more than expected in the month of June.

The Labor Department said its consumer price index fell by 0.4 percent in June after climbing by 0.5 percent in May. Economists had expected consumer prices to edge down by 0.1 percent.

The report also said the annual rate of consumer price growth slowed to 3.5 percent in June from 4.2 percent in May, coming in below economist estimates for a 3.8 percent jump.

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Published by HT Digital Content Services with permission from RTT News....