You are currently viewing Live Updates: Inflation Cooled Further in June

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.

After stripping out food and fuel prices for a sense of the underlying trend, the “core” price index climbed 3.3 percent compared to a year earlier, down from the previous report. And on a monthly basis, prices dropped 0.1 percent, while the core index ticked up only slightly.

In all, the very cool inflation data provided clear evidence that inflation is slowing meaningfully, exactly the kind of progress that Fed officials have been hoping to see as they contemplate when

Keep reading this article on The New York Times Business.

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