Annual rate was 4% in May; US monthly inflation was 0.2% in June

Annual inflation in the United States decelerated from 4% in May to 3% in June. The CPI (Consumer Price Index) retreated to the lowest level since March 2021, when it was 2.6%. The Fed’s target (Federal Reservethe US Central Bank) is to bring the rate to 2%.

The Bureau of Labor Statistics released the US inflation result this Wednesday (12.Jul.2023). Here is the full report (304 KB, in English).

The US monthly rate was 0.2% in June. It accelerated in relation to May (0.1%), but was slightly below market projections (0.3%).

In June, the Fed interrupted a sequence of hikes in the country’s interest rates. The readjustments began in March 2022, when it was still in the 0% to 0.2% range. After 10 highs in a row, it moved into the 5% to 5.25% range.


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