"US Inflation Sees Modest 3% Rise in June, Marking Lowest Increase Since March 2021"

US inflation rose 3% in June, the smallest increase since March 2021, falling short of economists' expectations. The core Consumer Price Index (CPI) excluding food and energy costs increased by 0.2% from the previous month, the smallest one-month increase since August 2021. The largest contributors to the increase were shelter, motor vehicle insurance, apparel, recreation, and personal care. The food index increased by 5.7% over the last year, with egg prices falling by 7.9% in June. The Federal Reserve is expected to continue hiking interest rates in July, with a one-in-three chance of another increase by the end of the year.