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.
Washington — It's not a palace, but next month the White House is set to be overrun by royals. Gabrielle Ake contributed to this report.
Epic Games, the video game maker behind Fortnite, is laying off more than 1,000 workers amid "extreme" market conditions and a downturn in engagement with its most popular game, CEO Tim Sweeney said in a blog post Tuesday. Edited by Aimee Picchi In:
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A U.S. Park Police officer was seriously wounded Monday evening in a shooting in Washington, law enforcement officials said.
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