According to CoinMeta, today's inflation data for the US PCE shows a decline for the first time since the pandemic, with overall prices falling by 0.1% in June and core prices rising by only 0.1%. However, the annual inflation rates remain at 3.7% (for the overall index) and 3.3% (for core inflation), which supports the Federal Reserve's decision to keep interest rates unchanged rather than implementing further rate cuts in the near term. Oil prices fell after a temporary ceasefire was reached with Iran, which is the main reason for the price decrease.