Are We at the Peak of Inflation?
Consumer Price Index Rises 3.1% in June, Below Expectations
Inflation likely cooled further in June, according to economists who predict that the Consumer Price Index (CPI) rose 3.1% in the month. This is below the consensus forecast of a 3.2% increase and marks the fourth consecutive month that annual core CPI has eased. The 3.1% rate landed 0.1 percentage points below expectations.
What does this mean for consumers?
If the economists' predictions are correct, it means that inflation is likely starting to cool down. This is good news for consumers, as it means that the prices of goods and services are likely to start rising at a slower pace. However, it is important to note that inflation is still running well above the Federal Reserve's target of 2%. This means that the Fed is likely to continue raising interest rates in an effort to bring inflation down to its target.
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