business
Inflation cools more than expected in June as gas costs fall, underlying prices ease
By Associated Press at Odessa American (oaoa.com)
· July 14, 2026
· 5 min read
By CHRISTOPHER RUGABER
AP Economics Writer
WASHINGTON 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% from May to June, the largest monthly d...
Key takeaway 4% from May to June, the largest monthly drop in four years, the Labor Department said Tuesday.
Why this matters in The Odessa
The recent cooldown in inflation could have a direct impact on the wallets of Odessa residents, who have been dealing with the effects of elevated prices for years. As the cost of gas, clothes, and used cars falls, consumers in the Permian Basin area may finally get some relief. This is particularly significant for Odessa, where the economy is closely tied to the energy industry and transportation costs can be a major expense. With core prices rising at a slower pace, locals may see some stabilization in the cost of living, which could be a welcome change after years of rapid price growth. As the Federal Reserve considers its next move on interest rates, Odessa residents will be watching closely to see how the decision affects the local economy, particularly in the areas of housing and consumer spending.
About this story
Original reporting by Odessa American (oaoa.com) . The Odessa 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 Odessa American (oaoa.com) . Have a tip or correction? Contact our newsroom .
Category: business ·
Published: July 14, 2026 ·
Source: Odessa American (oaoa.com) ·
Reading time: 5 min
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What is this story about? By CHRISTOPHER RUGABER
AP Economics Writer
WASHINGTON 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% from May to June, the largest monthly d...
When was this published? This article was first published on July 14, 2026 by Odessa American (oaoa.com) and curated for The Odessa readers.
Who reported this story? This story was reported by Associated Press at Odessa American (oaoa.com). To learn more about how The Odessa selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more business coverage from The Odessa, or browse our daily briefing and topic hubs .
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