The consumer price index rose 3.5% in June from a year earlier, a deceleration after several months of upward moves.

Global selling price inflation cooled in June amid lower energy prices, according to PMI survey responses, though overall rates of inflation remain elevated by standards seen over the past four years.

The consumer price index jumped 4.2% in May versus a year earlier, its highest level in more than three years, according to the U.S. Bureau of Labor Statistics. Gasoline and other energy prices surged ...