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.

Read more from Vox ▶

Featured
Buffett on Wealth Inequality and Economic Growth
Buffett on Wealth Inequality and Economic Growth

Warren Buffett, the iconic investor and Chairman of Berkshire Hathaway, isn't shy about addressing the gaps between the rich and poor.

Americans Are Misjudging Economy, Per Biden Administration
Americans Are Misjudging Economy, Per Biden Administration

A recent Harris poll for The Guardian reveals widespread misconceptions about the U.S. economy. Most Americans (56%) believe the country is in a recession, but it's not

Memorial Day BBQ Costs Rise… So Prepare to Spend More
Memorial Day BBQ Costs Rise… So Prepare to Spend More

Planning a Memorial Day barbecue? Get ready to spend more than last year.

Stocks Edge Higher Amid Choppy Week
Stocks Edge Higher Amid Choppy Week

Stocks nudged higher on Friday, wrapping up a volatile week.

Americans Are Split on Economy Despite Growth
Americans Are Split on Economy Despite Growth

More than half of Americans believe the U.S. is in a recession, even though the GDP has been growing for several years.

New York Fed Enhances Supply Chain Data with New Indexes
New York Fed Enhances Supply Chain Data with New Indexes

The Federal Reserve Bank of New York is enhancing its supply chain data tracking with new "Supply Availability Indexes."

McDonald's $5 Meal Deal Is A Limited-Time Offer That's Causing a Stir
McDonald's $5 Meal Deal Is A Limited-Time Offer That's Causing a Stir

McDonald’s is launching a $5 Meal Deal in the U.S. to attract customers amid rising inflation.

Walmart's High-Income Shopper Bubble Is Growing
Walmart's High-Income Shopper Bubble Is Growing

Walmart’s recent success, driven by higher-income shoppers, might not last.

McDonald's Ends Free Drink Refills, Sparking A Trend Across Fast Food
McDonald's Ends Free Drink Refills, Sparking A Trend Across Fast Food

Say goodbye to free soda refills at McDonald's, a move that's stirring up more than just the ice in customers' cups.

Oil Prices Fluctuate Amid Conflicting Demand Signals
Oil Prices Fluctuate Amid Conflicting Demand Signals

Oil prices fluctuated within a tight range on Friday, as investors weighed mixed signals from the world's top oil consumers, China and the U.S. Brent crude slipped 13 cents to $83.75 per barrel, while West Texas Intermediate (WTI) fell 4 cents to $79.22.

McDonald's Plans $5 Meal Deal to Win Back Price-Sensitive Diners
McDonald's Plans $5 Meal Deal to Win Back Price-Sensitive Diners

McDonald's is reportedly gearing up to introduce a $5 meal deal, aiming to attract customers who felt priced out by recent hikes.

The U.S. is Facing A Retirement Reality Check
The U.S. is Facing A Retirement Reality Check

A recent survey by asset management firm Schroders revealed that only 4% of retirees feel they are "living the dream," while another 4% are "living the nightmare."

Forbes Advisor Explores the Cost of Savings With Metro and State Rankings
Forbes Advisor Explores the Cost of Savings With Metro and State Rankings

California's reputation for high living costs is well-known, but a recent report from Forbes Advisor highlights other areas across the United States that can put a strain on your wallet.

Dining Dynamics Shift in California Amid Rising Fast Food Prices
Dining Dynamics Shift in California Amid Rising Fast Food Prices

This shift comes as fast food joints across California, like McDonald's, Chick-fil-A, and Pizza Hut, have bumped their prices by about 10% since last September.

U.S. Cities Grapple with Financial Strains Post-Pandemic
U.S. Cities Grapple with Financial Strains Post-Pandemic

Across the United States, municipal governments are tightening their belts as the financial support from the pandemic era fades and inflation persists.

U.S. Residential Electricity Bills in 2023 Rose Less Than Rate of Inflation
U.S. Residential Electricity Bills in 2023 Rose Less Than Rate of Inflation

In 2023, the average monthly electricity bill for U.S. homes nudged up by 2% to $138, which was actually less dramatic compared to the overall inflation rate of 4.1%.

California Fast Food Chains Raise Prices in Response to Minimum Wage Increase
California Fast Food Chains Raise Prices in Response to Minimum Wage Increase

Following California's new $20-an-hour minimum wage law that kicked in on April 1, fast food joints across the state have bumped up their menu prices.

Updated Perspectives on Retirement Savings
Updated Perspectives on Retirement Savings

In recent years, Americans have adjusted their retirement savings targets significantly.

Shifting Consumer Sentiment Sparks A Signal for Transportation and Logistics
Shifting Consumer Sentiment Sparks A Signal for Transportation and Logistics

In April, U.S. consumer sentiment took a sharper downturn than expected, hitting 77.9 from March's 79.4, reflecting growing concerns over inflation which continues to influence the economic outlook.

California Fast-Food Workers' Wage Hike to $20 an Hour
California Fast-Food Workers' Wage Hike to $20 an Hour

In California, a significant new law has just kicked in, raising the minimum wage for fast-food workers to $20 an hour.

Dynamic Pricing Is Coming For Fast Food
Dynamic Pricing Is Coming For Fast Food

In the not-so-distant future, your ideal burger munching time might not align with your growling stomach.

February CPI Report Reveals Mixed Trends for Inflation
February CPI Report Reveals Mixed Trends for Inflation

In February, inflation spiked more than expected due to higher gas prices, yet slowed in other areas like food and housing, offering a silver lining.

Gold Hits Record High Amid U.S. Unemployment Rise
Gold Hits Record High Amid U.S. Unemployment Rise

Gold prices soared to a new record high on Friday, driven by reports of a rise in the U.S. unemployment rate.

Five Guys' Price Debate Ignites Social Media Frenzy
Five Guys' Price Debate Ignites Social Media Frenzy

A recent viral social media post sparked a lively discussion about the prices at Five Guys, a popular burger chain in America.

Insights into America's Financial Struggles and Priorities with Credit Card Debt
Insights into America's Financial Struggles and Priorities with Credit Card Debt

It's no secret that many Americans are grappling with credit card debt, with a Bankrate survey revealing that one in three adults had more credit card debt than savings in both 2023 and 2024.

Balancing Inflation and Recession Risks Amid Fed Rate Cut Debates
Balancing Inflation and Recession Risks Amid Fed Rate Cut Debates

In 2021 and 2022, as inflation surged, the Federal Reserve was criticized for delaying interest rate hikes, allowing prices to soar. Now, with inflation easing, there's concern the Fed might move too slowly to cut rates, risking a recession, some economists argue.

Strong Job Growth and Wage Increases Continue in U.S. Economy Amidst Rising Interest Rates
Strong Job Growth and Wage Increases Continue in U.S. Economy Amidst Rising Interest Rates

In January, the U.S. economy added a surprising 353,000 jobs, surpassing economists' predictions of 177,000.

Rising Insurance Premiums Squeeze Corporate Profits
Rising Insurance Premiums Squeeze Corporate Profits

Hidden inflationary costs are squeezing corporate profits, and it's not just the usual suspects like input and freight costs.

Record Online Spending and the 'Buy Now, Pay Later' Trend
Record Online Spending and the 'Buy Now, Pay Later' Trend

During the holiday season, online spending hit a record high, increasing by 4.9% year over year, totaling $222.1 billion, according to Adobe Analytics.

Offshore Wind Farm Project Terminated Due to Economic Challenges
Offshore Wind Farm Project Terminated Due to Economic Challenges

Developers of the proposed offshore wind farm near Long Beach, Long Island, announced the termination of the Empire Wind 2 project due to economic challenges - including inflation, increased interest rates, and supply chain disruptions.

Jennifer Joslyn
Previous

Trucking Operational Costs Reach Record High in 2022, Affecting Carriers' Financial Stability
Next

Energy Information Administration Report Predicts Oil Price Increase and Growth in Renewable Diesel Production