The cost of living in the United States fell at its fastest monthly pace in six years this June. Falling energy prices provided a brief respite from the stubborn inflation that has weighed heavily on American households throughout the year.
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Subscribe Sekarang →According to a report released Tuesday by the Bureau of Labor Statistics, the consumer price index dropped 0.4% on a seasonally adjusted basis from the previous month. This decline pulled the annual inflation rate down to 3.5%, marking a notable shift in economic trends.
The numbers came in lower than Wall Street had anticipated. Based on data from a Dow Jones survey, economists expected a 0.2% monthly decline and a 3.8% annual reading, following May's 4.2% rate.
The 0.4% monthly drop represents the sharpest decline in headline inflation since April 2020. Economists note that while lower energy costs drove much of the drop, broader price pressures across the economy also showed signs of cooling.