June's Consumer Price Index saw inflation cool more than expected, as prices declined 0.1% month-over-month compared to the estimated a 0.1% increase. Prices rose 3% year-over-year, compared to the estimated 3.1%. Madison Mills, Jared Blikre, and Anjalee Khemlani break down three sectors that have historically been hit hardest by sticky inflation and how they were affected in June.

Shelter inflation has been one of the biggest contributors to inflation this year. In June, shelter inflation grew 0.2% month over month and 5.2% year over year. The owners' equivalent rent came in at the lowest levels since August 2021, revealing some progress in the overall sector.

Energy fell 2% month-over-month, but posted a 1% year-over-year increase. Gasoline fell 3.8% from May, while energy services fell 0.1%.

Healthcare rose 0.2% month-over-month and 3.3% year-over-year. The index for physician services and hospitals grew 0.1% from May, and prescription drugs held steady.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Melanie Riehl