US consumer inflation eases to 3.0% in June
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US consumer inflation in June eased to 3.0%, according to government data. The consumer price index (CPI) rose 3.0% from a year ago, with a fall in gas prices offsetting housing costs. The core CPI index, which excludes volatile food and energy prices, saw the smallest annual rise since April 2021 at 3.3%. The Federal Reserve has been working to rein in inflation, which reached 9.1% in mid-2022, and Federal Reserve Chair Jerome Powell stated that inflation has shown 'modest' progress. The latest CPI report suggests that inflation is coming down to the Fed's two-percent target, potentially allowing for interest rate cuts.

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https://www.voanews.com/a/us-consumer-inflation-eases-to-3-0-in-june/7693859.html