FILE - Egyptians walk past a poster depicting a U.S. dollar outside an exchange office in Cairo, Egypt, Thursday, Feb. 9, 2023. Egypts annual inflation rate set a record high in June, as the most populous Arab country continues to battle price hikes and a depreciating currency, the Egyptian statistics bureau said Monday, July 10, 2023. (AP Photo/Amr Nabil, File) (Amr Nabil, Copyright 2023 The Associated Press. All rights reserved)
Consumer prices fell to 3% in June — their 12th-consecutive month of declines.
Forecasts called for 12-month consumer price increases to slow from 4% in May to 3.1% in June — just about 1 percentage point above the Federal Reserve’s 2% inflation target.
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By one measure, the U.S. economy is already close to slaying the price inflation that has bedeviled it for the better part of two years.
