U.S. June CPI Drops 0.4%, Easing Pressure for Fed Rate Hike in July

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U.S. consumer prices fell 0.4% in June, according to the latest inflation report. The data is seen as a key factor in shaping the Federal Reserve's next policy decision. The Fed is scheduled to meet in late July to deliberate on interest rates. A cooling inflation figure reduces the likelihood of another rate hike at that meeting.

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