2024-07-14 18:21:28
Consumer prices (CPI) in the United States increased by the lowest in a year, 3%, in June compared to the same month last year, the country’s Labor Department reported.
The growth rate thus slowed from 3.3% in May, marking the third consecutive month of decline.
As reported by Day.Az with reference to Interfax, analysts on average estimated June inflation at 3.1%, according to Bloomberg and Trading Economics.
The rise in food prices accelerated to 2.2% last month from 2.1% in May.
New cars fell in price by 0.9% (-0.8% in May), used cars by 10.1% (-9.3%).
The growth rate of prices for transport services decreased to 9.4% from 10.5%, energy resources – to 1% from 3.1%, including gasoline, which fell in price by 2.5% (+2.2% in May).
Clothing prices rose by 0.8%, the same as the month before.
Consumer prices in June fell for the first time since May 2020 compared to the previous month – by 0.1%. Experts on average expected them to increase by 0.1%, notes Trading Economics. They remained unchanged in May.
Consumer prices excluding food and energy (Core CPI) rose in June by the lowest since February 2021, 0.1% month-on-month, and by the lowest since April of the same year, 3.3% year-on-year. In May, growth was 0.2% and 3.4%, respectively, and analysts expected this pace to continue.
The Federal Reserve closely monitors data on the rate of growth of consumer prices in the country, which is one of the key factors in making decisions on monetary policy. The target inflation rate of the US central bank is 2%.
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