US Inflation Eases as Consumer Price Index Shows Promising Slowdown

InflationMoney Matters
Written By Jennifer Joslyn

The latest Consumer Price Index (CPI) report indicates that inflation in the US is slowing, providing promising news for households. While overall CPI increased by 0.2% in June compared to May and 3% compared to June 2022, the annual rate of inflation is at its lowest point in months. The report suggests that price increases are easing in certain industries, particularly in gasoline and food prices. Despite the positive data, the Federal Reserve is expected to proceed with a rate hike in the near future, but further rate increases may be reconsidered if inflation continues to cool.

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Jennifer Joslyn
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