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US inflation decelerates

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The US consumer price index rose 3% year-on-year last June after rising 4% the previous month.

This happened, according to a statement released by the US Department of Labor today, Wednesday, and thus the annual inflation recorded last month is the lowest level since March 2021.

Analysts polled by DailyFX had expected annual inflation to hit 3.1% in June.

According to the data, core inflation (excluding energy and food prices) was 4.8% year-on-year, compared to expectations of 5%.

On a monthly basis, the US CPI rose 0.2% in June 2023 after rising 0.1% in the previous month.

Source: Prime

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