US Inflation Reaches Lowest Level Since 2021, Offering Relief to Households Amidst Easing Prices

InflationMoney Matters
Written By Jennifer Joslyn

Inflation in the United States has reached its lowest point since early 2021, providing some relief to households after two years of high prices. The government reported a 3% inflation rate in June compared to the previous year, with easing prices for gasoline, airline fares, used cars, and groceries contributing to the decline. While the Federal Reserve is expected to raise its benchmark rate in an upcoming meeting, economists believe that if the trend of slowing inflation continues, the central bank may hold off on further rate hikes later in the year.

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Jennifer Joslyn
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