The inflation rate reaches its lowest level in June, but it still worries the Federal Reserve.

With an increase of only 3% in June, the inflation rate in the U.S. reached its lowest level since 2021. Although this might represent good news for most consumers, the Federal Reserve considers it is still too soon to claim victory. This slowdown of inflation can be recognized in some key items like airfares and car prices, but it seems to be excluding energy, food, and housing costs. Fed officials will meet on July 25th and 26th, and they likely will raise interest rates again in a new attempt to decelerate the climb of the prices in those key sectors.

If you would like to read more, please visit: https://www.nytimes.com/2023/07/12/business/economy/inflation-economy-fed-rates.html