The US June Consumer Price Index is forecast to show a monthly decline of 0.1%, down from a 0.5% increase in May, while the annual rate is seen retreating to 3.8% from 4.2%. Core CPI, which excludes food and energy, is expected to rise 0.2% month-over-month and 2.9% year-over-year, steady compared with May. The anticipated cooling is driven by a more than 20% drop in crude oil prices in June following a ceasefire announcement between the US and Iran on June 17. TD Securities analysts expect headline CPI fell 0.22% month-over-month, led by a 10% drop in gasoline prices. However, investors may overlook the decline as oil prices have edged higher again in July amid renewed strikes, and concerns grow over the inflationary impact of the artificial intelligence boom on core services and goods.