Inflation cooled in June to slowest pace in more than 2 years
CBSN
Inflation dipped in June to its slowest pace in more than 2 years, indicating price increases are cooling amid the Federal Reserve's rate-hiking regime.
The Consumer Price Index grew at an annual rate of 3%, the Labor Department said on Wednesday. Economists had expected a 3.1% increase, according to FactSet.
The increase was the smallest since March 2021, the Labor Department noted.
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