Inflation fell by more than expected in June.
Inflation fell to its slowest pace since early 2021 in June, the Department of Labor said on Wednesday.
The U.S. consumer price index rose by three percent compared with a year ago, the government said. Compared with a month earlier, the index was up by 0.2 percent.
Both the yearly and monthly figures were lower than expected. Wall Street analysts had forecast a 0.3 percent increase for the month and a 3.1 percent increase year-over-year.
Inflation accelerated compared with May. The month-t0-month figure picked up from the slight 0.1 percent gain recorded for the April to May period.
Excluding food and energy prices, so-called core inflation rose by 0.2 percent for the month. Compared with a year ago, core prices are up by 4.8 percent.
