Inflation showed signs of easing in June, with a newly released Consumer Price Index report indicating the largest month-to-month decline in overall consumer prices since the early months of the COVID-19 pandemic. The report offered Americans a welcome break after months of stubborn inflation, although economists and policymakers continue to warn that several emerging risks could quickly reverse the recent progress.
According to the latest figures from the Bureau of Labor Statistics (BLS), the Consumer Price Index measured 3.5% higher than one year ago, while prices declined 0.4% compared to May. The monthly decrease exceeded many economists’ expectations and marked the strongest one-month improvement in more than four years.
“This decline in the all items index was the largest 1-month decrease since April 2020,” the Bureau of Labor Statistics said. “The index for energy fell 5.7% in June,” the agency added.
