In the first month of this year's summer, annual inflation in America fell more than expected, and the base rate also fell, although it was forecast to be unchanged.
The annual price increase in this country has been decreasing for the third month in a row, this time from 3.3 percent to three percent, when it was predicted that it would adjust less, that is, to an average of 3.1 percent. This is the lowest level in the last one year.
Excluding the impact of changes in energy resources and food prices, the so-called basic annual inflation adjusted from 3.4 to 3.3 percent in June. In this case, this indicator is expected to remain the same. This is the lowest reading since April 2021.
The annual increase in the prices of energy resources slowed from 3.7 percent to just one percent, as the price of gasoline fell by 2.5 percent during the year, after a recorded increase of 2.2 percent in May. The annual increase in fuel oil prices slowed down from 3.6 to just 0.8 percent, but gas rose from 0.2 to even 3.7 percent.
Annual price growth also decreased for housing rent (from 5.4 to 5.2 percent) and transport services (from 10.5 to 9.4 percent), while clothing remained stable at 0.8 percent. In addition, the prices of new vehicles (from 0.8 to 0.9 percent) and used cars and trucks (from 9.3 to 10.1 percent) continued to decrease. However, on the other hand, the annual increase in food prices increased – from 2.1 to 2.2 percent.
In the sixth month of this year, the consumer price index in America fell by 0.1 percent, and this happened for the first time since May 2020. This indicator did not change a month before, when it was expected to rise by an average of 0.1 percent this time. In the case of core inflation, it grew by 0.1 percent in June, or half as much as in May and less than economists expected.
Last month, fuel in this country became cheaper by 3.8 percent, but on the other hand, food and housing rent became more expensive by 0.2 percent each. Used motor vehicles became cheaper by 1.5 percent.
