Increase was the smallest since March 2021 and down from a four-decade high of 9.1% in June 2022
The prices of US goods and services hit a two-year low in June, a sign that inflation is continuing to ease as the economy responds to the US Federal Reserve’s rapid increases in interest rates.
The latest consumer price index (CPI) figures, which measure the prices of a basket of goods and services, increased 3% over the last year. This was the smallest increase since March 2021 and down from a four-decade high of 9.1% in June 2022 as pandemic supply chain issues clashed with burgeoning consumer demand.
About Author
More Stories
Xi Jinping tells Alibaba’s Jack Ma and Chinese tech chiefs to ‘show their talent’
‘We’re clearly heading towards collapse’: why the Murdoch empire is about to go bang
Hackers steal $1.5bn from crypto exchange in ‘biggest digital heist ever’