US CPI fell 0.4% in June; 3.5% from a year earlier
The Bureau of Labor Statistics said the seasonally adjusted Consumer Price Index fell 0.4% in June 2026, putting annual inflation at 3.5%. Core CPI, which excludes food and energy, was unchanged 0.0% on the month and 2.6% on the year.
- Headline CPI fell 0.4% in June; 3.5% from a year earlier
- Core CPI (ex food & energy) was unchanged in June; 2.6% from a year earlier
- Index level 332.6 (1982-84=100, seasonally adjusted)
- Monthly change from the seasonally adjusted index, 12-month change from the unadjusted index, as published on the release date (ALFRED vintage)
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Moves this explains
BTC+4.34%Jul 13 · Rose 4.3% after the June CPI report showed consumer prices fell 0.4% in the month and 3.5% from a year earlier, below the 3.8% forecast. The softer print cut the probability of a July Fed rate hike from about 42% to 12%, and bitcoin jumped from about $62,000 to $64,900 within minutes of the release.NVDA+4.17%Jul 13 · Rose 4.17% on the day the June CPI report showed consumer prices falling 0.4% and inflation at 3.5% year over year; the S&P 500 rose 0.69%, bitcoin 4.34% and ether 6.48%. The cooler inflation print came out the same day as the broad rally.MSTR+7.47%Jul 13 · Rose 7.5% on the June CPI report, which showed a 0.4% monthly decline and 3.5% annual inflation (versus 4.2% in May), reducing Fed hike bets. Micron +7.5%, Bitcoin +4.3%, Robinhood +5.2%, Ether +6.5%, Nvidia +4.2% and the S&P 500 +0.7% moved together, and coverage linked bitcoin's climb toward $64,000 to the softer print.QQQ+1.65%Jul 13 · QQQ rose 1.65% and the S&P 500 rose 0.69%, with rate-sensitive and high-beta names leading (MU +7.51%, INTC +6.32%, MSTR +7.47%, ETH +6.48%, BTC +4.34%). The same morning's US CPI report showed prices down 0.4% in June and 3.5% year on year, which eased rate-hike bets and is the most likely driver of the rally.Source
Bureau of Labor StatisticsJul 14, 2026, 8:30 AM ET