A Brief Reprieve in the Inflation Storm The Consumer Price Index (CPI) report released this month has brought some welcome news: inflation cooled off more than expected in June due to a decline in energy prices. The 0.
4% monthly drop is the largest single month decline since April 2020, and annual inflation eased to 3. 5%, its lowest yearly reading since March.
Economists are warning that renewed tensions with Iran could push inflation back up. Heather Long, chief economist at the Navy Federal Credit Union, noted on X, "relief could be short lived.