In June, inflation cooled, possibly signaling Fed interest rate cuts in September.

Inflation cooled in June, which could signal interest rate cuts by the Federal Reserve in September. Consumer prices declined 0.1% from May to June, and measured from 12 months earlier, prices were up 3% in June, down from 3.3% in May. The latest inflation readings could help convince the Fed's policy-makers that inflation is returning to its 2% target, potentially leading to interest rate cuts in September.