US inflation cools on brief ceasefire but Fed keeps rate hike option

US consumer inflation slowed more than expected in June as energy prices retreated, but the moderation was insufficient to convince financial markets to take an interest-rate increase from the Federal Reserve this year off the table against the backdrop of renewed conflict in the Middle East. The Consumer Price Index (CPI) from the Labour Department on Tuesday also showed underlying inflation subsiding last month amid declines in the costs of motor vehicle insurance, communication, apparel,...