Surveys Say Inflation Has Been Slowing For One Year

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.