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The U.S. consumer price index (CPI) rose by 3.0 percent in June, the lowest annual increase since 2021, according to the U.S. Bureau of Labor Statistics on Wednesday.
U.S. stock index futures sharply extended gains on Wednesday after the data was released, which raised bets that the Federal Reserve was nearing the end of its rapid interest rate hikes.
The CPI gained 0.2% last month after edging up 0.1% in May, the bureau added.
(Cover: Gas prices are seen at a Mobil gas station in the Flatbush neighborhood in the Brooklyn borough of New York City, U.S., June 12, 2023. /CFP)
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Disinformation report hotline: 010-85061466