Market 07/12: CPI drops sharply to 3.0%, all inflation indicators lower than expected

US inflation drops sharply in the past month with headline CPI hitting 3.0% for the first time in 27 months, lower than the 3.1% forecast and 4.0% from May. Month-over-month, CPI rises only +0.2% MoM, lower than the +0.3% forecast.

Meanwhile, super core CPI - CPI excluding food, housing, and energy - the Fed's key inflation measure, falls to +3.93% YoY, lowest since 01/2022.