CPI finally turned around; falling gasoline prices pulled the Federal Reserve back from the cliff, and PIMCO’s interpretation of this move is spot on.

Coin World reports, citing Bloomberg, that the U.S. Consumer Price Index (CPI) fell for the first time in June 2026, with a decline of 0.4%. The drop was mainly driven by the largest decrease in gasoline prices since 2022. This data eased pressure for the Federal Reserve to raise interest rates. Tiffany Wilding, an economist at PIMCO, analyzed this data in “Bloomberg Surveillance.”