Inflation is cooling.
Lam-Balfour and Durana 7/11 (Tiffany Lam-Balfour, investing writer and spokesperson at NerdWallet. Alieza Durana covers investing basics for NerdWallet. "The Current Inflation Rate is 3.0%. Here’s Why It Matters" 7/11/24 Accessed 7/24/24, https://www.nerdwallet.com/article/investing/inflation#types-of-inflation)gc
The current U.S. inflation rate is 3.0% for the 12-month period leading up to June 2024. The consumer price index (CPI), which measures changes in prices, fell 0.1% in June after remaining the same in May, according to the latest release from the Bureau of Labor Statistics [1] . The BLS notes that the declines in gasoline and energy prices offset a rise in the shelter index. The next monthly update will be released on Wednesday, August 14, 2024. A 3.0% inflation rate may not seem like a lot, or as much as the price changes you've noticed at the grocery store. But to put inflation in context over the last few years, consumer price inflation rose 21.78% between January 2020 and June 2024, and stubbornly high housing costs persist.