US inflation weakened significantly in June. Banking economists had expected a decline to 3.1 percent, but consumer prices rose just 3.0 percent. It’s the lowest rate in more than two years.

The high level of inflation in the USA weakened again noticeably in June. Consumer prices rose by 3.0 percent compared to the same month last year, as the US Department of Labor announced in Washington on Wednesday. In the previous month, the rate was 4.0 percent. Bank economists had expected an average decline to 3.1 percent. The current rate is the lowest in just over two years.

Core inflation in the US falls significantly from 5.3 to 4.8 percent

Core inflation also fell significantly from 5.3 to 4.8 percent. This rate excludes volatile energy and food prices. According to economists, core inflation reflects the general price trend better than the overall rate.

Inflation data are currently the focus of particular attention because they are of great importance for the monetary policy of the US Federal Reserve. In June, the Fed paused in its determined tightening trajectory, which it has been pursuing since March 2022. Another rate hike is currently expected for the next meeting at the end of July.