US inflation down to 3% in June - Breaking The News

US inflation down to 3% in June

12 July

1 min read

EPA-EFE/JOHN G. MABANGLO

The annual inflation in the United States stood at 3.0% in June, going down from 4.0% registered in May and coming in slightly lower than analysts forecast, the US Bureau of Labor Statistics revealed in its report published on Wednesday. Like in May, this change was the smallest 12-month increase since the period ending March 2021. Month-on-month, the Consumer Price Index (CPI) grew by 0.2%.

The index for shelter was once again the largest contributor to the overall rise with over 70%, followed by the index for motor vehicle insurance. The food index advanced by 0.1% compared to the previous month and 5.7% in contrast with June 2022. The energy index increased by 0.6% month-on-month but sank by 16.7% year-on-year.

The index for all items less food and energy grew 4.8% on an annual basis and 0.2% on a monthly one.

inflation data cpi

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