Consumer prices fell sharply in June thanks to relief at the gas pump and a broad decline in inflation.
The consumer price index fell 0.4 percent last month compared with May, the Department of Labor said Tuesday. This is the largest decline since 2020. Compared with a year ago, prices are 3.5 percent higher.
Economists had forecast a 0.1 percent monthly decline after May’s sharp 0.5 percent increase. The inflation index was expected to climb 3.8 percent from a year earlier, a slowdown in annual inflation from May’s 4.2 percent.
Core prices, a measure that excludes food and energy, were flat compared with the prior month. That is the best…
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