Inflation eased to 3.5% in June, primarily thanks to energy prices that briefly fell after the U.S. and Iran signed a memorandum of understanding in a bid to end the ongoing war.

From May, consumer prices broadly fell 0.4%, more than economists had been expecting.

But core inflation, which excludes food and energy costs, was unchanged in June, a worrying sign of how sticky higher prices may be outside of energy prices themselves.