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After reaching all-time highs in June 2022 exceeding a 9 percent year-on-year increase, the inflation rate is on the decline.
According to the most recent data release from the United States Bureau of Labor Statistics, inflation compared to last May fell by 0.9 percent, standing at 4.0 percent; exceeding economists’ expectations, who had expected a 4.5 percent rise.
With this, the inflation rate is at its lowest level in the last two years. However, this does not mean that inflation will not continue to go up, it only reflects that the rates are increasing at a slower pace compared to the previous year.
Read more in our full coverage on which food products have seen the greatest increase in price.
Source: AS USA
