Inflation Ticks Down Slightly As Economy Cools

Inflation ticked down slightly year-over-year in June as rising prices continue to weigh on average Americans’ finances, according to the latest Bureau of Labor Statistics (BLS) release on Wednesday.

The consumer price index (CPI), a broad measure of the price of everyday goods, increased 3.0% on an annual basis in June and decreased 0.1% month-over-month, compared to 3.3% in May, according to the BLS. Core CPI, which excludes the volatile categories of energy and food, remained high, rising 3.3% year-over-year in June, compared to 3.4% in May.