CPI Eased to 3.0% in June, Slightly Below Expectations
The U.S. Bureau of Labor Statistics (BLS) recently released the Consumer Price Index report for June, showing the index last month up 3.0% on the year. This was the smallest annual increase since March 2021 and was down sharply from the June 2022 peak of 9.1%.
The latest data was slightly below expectations, which looked for inflation to decline from 4% in May to 3.1% in June. Inflation has eased for 12 straight months but remains above the Fed's target rate of 2%, leading some traders to anticipate...
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