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Falling gas prices cut inflation in June, but renewal of Iran war could limit progress
By Christopher Rugaber | The Associated Press at NBC Los Angeles (KNBC)
· July 14, 2026
· 4 min read
U.S. inflation cooled last month as the cost of gas, clothes, and used cars fell, providing some relief to consumers, while underlying price pressures also cooled more than expected.
Prices dropped 0.4% in June from May, the largest monthly drop in four years, the Labor Department said Tuesday...
Key takeaway 4% in June from May, the largest monthly drop in four years, the Labor Department said Tuesday.
Why this matters in The Los Angeles
For Los Angeles residents, the drop in inflation last month may bring some relief, but the renewed tensions in the Middle East pose a significant threat to this progress. As a major hub for international trade, the city's economy is closely tied to global events, and any disruption to oil supplies could have a ripple effect on local businesses and consumers. The Port of Los Angeles, a critical gateway for goods entering the US, could see increased costs and delays if the conflict escalates, ultimately affecting the prices of goods on store shelves. Additionally, the city's thriving tech industry, which relies heavily on data centers, may see increased electricity costs if the demand for power continues to rise. As the Federal Reserve considers its next steps, Angelenos will be watching closely to see how the situation unfolds and how it may impact their daily lives.
About this story
Original reporting by NBC Los Angeles (KNBC) . The Los Angeles surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit NBC Los Angeles (KNBC) . Have a tip or correction? Contact our newsroom .
Category: local ·
Published: July 14, 2026 ·
Source: NBC Los Angeles (KNBC) ·
Reading time: 4 min
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Frequently asked about this story
What is this story about? U.S. inflation cooled last month as the cost of gas, clothes, and used cars fell, providing some relief to consumers, while underlying price pressures also cooled more than expected.
Prices dropped 0.4% in June from May, the largest monthly drop in four years, the Labor Department said Tuesday...
When was this published? This article was first published on July 14, 2026 by NBC Los Angeles (KNBC) and curated for The Los Angeles readers.
Who reported this story? This story was reported by Christopher Rugaber | The Associated Press at NBC Los Angeles (KNBC). To learn more about how The Los Angeles selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more local coverage from The Los Angeles, or browse our daily briefing and topic hubs .
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