The Consumer Price Index climbed at a moderate pace in June compared with a year earlier and fell on a monthly basis, welcome news for Federal Reserve officials who are watching for further evidence that they have wrestled rapid inflation under control.
Overall inflation was 3 percent in June on an annual basis, down from 3.3 percent in May, and softer than the 3.1 percent that economists had forecast in a Bloomberg survey.
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Overall inflation was 3 percent in June on an annual basis, down from 3.3 percent in May, and softer than the 3.1 percent that economists had forecast in a Bloomberg survey.
Inflation Cooled Further in June
The Consumer Price Index rose 3 percent in June on an annual basis, a sharper slowdown in inflation than economists had expected. On a monthly basis, prices dropped 0.1 percent.
