On Wednesday, July 12, 2023, the U.S. Bureau of Labor Statistics released the Consumer Price Index report for June, showing a 3% increase in inflation, the lowest level since March 2021. The U.S. inflation rate has fallen for 12 consecutive months, with the index rising 0.2% on a monthly basis.
Labor Department’s CPI Data Shows 3% Inflation Rate for June
Inflation in the United States continues to cool, according to the latest Consumer Price Index report from the U.S. Bureau of Labor Statistics released Wednesday. Inflation has fallen consecutively each month since June 2022. The inflation rate in June 2022 was 9.1%, but the latest CPI statistics show it has dropped to 3%.
“The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2 percent in June on a seasonally adjusted basis, after increasing 0.1 percent in May,” the CPI report details. “Over the last 12 months, the all items index increased 3.0 percent before seasonal adjustment.”
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