Surveys Say Inflation Has Been Slowing For One Year
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Inflation has been cooling off for a full year now, according to the latest data from the Labor Department.
Inflation rose by 0.2% in the month of June for an annual rate of 3% – the smallest increase since March of 2021 and marking twelve straight months with a shrinking inflation rate.
The Federal Reserve is expected to keep raising interest rates until the target rate of 2% annual inflation is reached.
