Annual consumer inflation in the United States cooled to its lowest rate since 2021, the Labor Department said Wednesday, an encouraging sign for policymakers who have been battling to rein in cost pressures. The key inflation gauge, the consumer price index (CPI), rose 3.0 per cent from a year ago last month, down from 4.0 percent in May and slightly lower than analysts expected.
US annual consumer inflation cools to lowest since 2021
Annual consumer inflation in the United States cooled to its lowest rate since 2021, the Labor Department said Wednesday, an encouraging sign for policymakers who have been battling to rein in cost pressures. The key inflation gauge, the consumer price index (CPI), rose 3.0 per cent from a year ago last month, down from 4.0 percent in May and slightly lower than analysts expected.