Inflation cooled more than expected in June, helped by falling prices for cars, gas and airline tickets as well as some much-needed easing in the cost of housing.
Inflation cooled more than expected in June, helped by falling prices for cars, gas and airline tickets — a boost for the summer travel season — as well as some much-needed easing in the cost of housing, the government reported Thursday. Overall, consumer price inflation for all goods and services rose 3% in June from a year ago, down from 3.3% the previous month.
In addition to Thursday’s inflation report, the most recent monthly employment statistics indicate that the labor market and wages are cooling but still advancing at a solid pace. Taken together, they are the kind of good data that Powell and his colleagues are looking for.
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