According to new government statistics, the Consumer Price Index — the most widely used measure of inflation in the U.S. economy — has increased only 3 percent this year through June.
A year ago, the comparable figure was 9 percent.
Core inflation — which eliminates food and fuel prices — rose only 4.8 during the first semester of 2023, much less than expected.
The positive numbers come after the Federal Reserve began a 16-month campaign to tame inflation by making aggressively raising interest rates.
