Inflation was negative in June.
According to the Bureau of Labor Statistics, the seasonally adjusted consumer price index (CPI) dropped by one-tenth of 1% in June, lower than expected. The inflation rate over the last 12 months has dropped to 3%. A significant drop from May's 3.3%. It is important to note that this does not mean prices are decreasing; the last calendar year with negative inflation was 1954.
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(Original air-date: 7/12/24)
