look news india
Inflation in America: Inflation in the US fell more than expected and was three percent last month. This is the third consecutive month when inflation has come down. This information has been received from government data. This shows that the four-decades-long rapid increase in inflation is now coming under control and the US central bank, the Federal Reserve, may move towards cutting policy rates in the coming days. According to official data, the inflation rate has decreased by 0.1 percent in June compared to May. Year-on-year inflation was three percent last month, which was 3.3 percent in May.
Inflation nears Federal Reserve's target
Recent inflation data may agree with the Federal Reserve that inflation is in line with its two percent target. According to the data, inflation is moderate, but inflation for essential items such as food, rent, health care is higher than before the pandemic. It remains to be seen how the Federal Reserve reacts to this inflation rate.