Inflation in the United States slowed down and stopped at 3% in June. In May, this figure was 4%, so there certainly is an improvement, and it is comparable to the lowest figures since 2021, even better than the projected 3.1%.
This is the twelfth consecutive decline in the consumer price index in the United States, and such news was well received by European stock exchanges that sprung up. Core inflation also fell – it is the one that does not include food products and energy, and the latter fell from 5.3% in May to 4.8% in June.
The news was received positively by US President Joe Biden, who explained that this data is “new and encouraging evidence that inflation is coming down and our economy remains strong.” To reinforce this positive picture, unemployment remains close to its historical low.
Now the attention is focused on the Fed, as the markets are expected to slow down the growth of interest rates. The management of Federal Reserve will meet on July 26 and 27 to discuss whether to change the monetary policy that was in place for more than a year, wherein the rates have been raised ten times in a row in fifteen months.