People use a gas station in Columbia, Md., on May 17, 2023. Madalina Vasiliu/The Epoch Times
A decline in energy prices helped drive consumer inflation lower in June, providing relief for Americans, the government reported.
The monthly U.S. inflation rate declined 0.4 percent last month, down from the 0.5 percent increase in May, according to new data from the Consumer Price Index released by the Bureau of Labor Statistics on July 14.
Economists had forecast a 0.1 percent drop.
The 12-month inflation rate eased sharply to a lower-than-expected 3.5 percent, from 4.2 percent.
Excluding the volatile energy and food categories, core inflation came in at 0 percent. The annual core inflation rate slowed to 2.6 percent, from 2.9 percent.
This is a developing story. Please check back for further updates.
