July 21, 2024

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Is inflation still cooling? Thursday’s report on June prices will provide clues

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WASHINGTON (AP) — Optimism is rising among economists, investors and Federal Reserve officials that U.S. inflation is nearly under control, with the latest report on consumer prices expected to show another month of mild increases.

Consumer prices in the United States are believed to have edged up just 0.1% from May to June in data the government will release Thursday morning, according to a survey of economists by the data provider FactSet.

Inflation in June was likely held down by lower gas prices and a slight rise in grocery costs. The small increase would follow an unchanged reading the previous month. Measured from a year earlier, inflation for June is predicted to be 3.1%, down from 3.3% in May.

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The Associated Press

2024-07-11 00:04:24

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