Consumer prices in the New York area, including Long Island, rose at a faster pace in June than in May, driven in part by higher costs for child care, housing and groceries, such as meat and eggs.

CPI data shows headline and core inflation in line with expectations. Check out my thoughts on financial markets' reaction to CPI data.

Stocks closed mostly lower Tuesday as inventors digested important inflation data in the U.S., as well as big bank earnings from JPMorgan.

The CPI rose 0.3% month-over-month in June, accelerating from May’s 0.1% pace. Year-over-year inflation also jumped to 2.7%, up from 2.4% in May. Core CPI, which excludes food and energy, rose 0.2% in June and came in at 2.9% annually — signs that underlying inflationary pressure remains sticky.

Citigroup (C) boosted its full-year net interest income guidance and now sees 2025 revenue at the high end of its previous guidance. The bank posted beats on both Q2 EPS and revenue. Its services business continued to shine, and banking revenue jumped 23% Y/Y.