Consumer price growth falls for 12th-consecutive month to 3%
FILE - Egyptians walk past a poster depicting a U.S. dollar outside an exchange office in Cairo, Egypt, Thursday, Feb. 9, 2023. Egypts annual inflation rate set a record high in June, as the most populous Arab country continues to battle price hikes and a depreciating currency, the Egyptian statistics bureau said Monday, July 10, 2023. (AP Photo/Amr Nabil, File) (Amr Nabil, Copyright 2023 The Associated Press. All rights reserved)
Consumer prices fell to 3% in June — their 12th-consecutive month of declines.
Forecasts called for 12-month consumer price increases to slow from 4% in May to 3.1% in June — just about 1 percentage point above the Federal Reserve’s 2% inflation target.
By one measure, the U.S. economy is already close to slaying the price inflation that has bedeviled it for the better part of two years.
Read more on NBC News here.
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