As a result of slower price increases for food and other necessities, inflation fell further in June.
In the United States, inflation dropped by around two-thirds in the year after it reached a 40-year high of 9.1%. It is anticipated that lowering yearly consumer price increases down to the more usual range of 2% that is wanted by federal policymakers would be a more difficult task. Inflation fell for the 12th consecutive month in June as a result of stable prices for groceries, which partially offset a recovery in fuel prices and still substantial rent increases. The Federal Reserve pays closer attention to underlying inflation, and this measure showed a greater decline than anticipated. According to the…
