• 5 months ago
The Consumer Price Index in the United States slowed more than expected in June, providing further signs of progress Thursday toward returning to the Federal Reserve’s 2% inflation target and maintaining high expectations for a near-term kickoff of interest rate cuts.

Last month, the average increase in a basket of goods and services measured by the Bureau of Labor Statistics was 3% compared to June 2023, slightly cooler than economist forecasts of 3.1%. The June report marks the third consecutive decline in the inflation rate, a trend not observed since May 2023.

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