CNN —
Americans weighed down by fast-rising prices for three years just received more encouraging news on the inflation front.
The Consumer Price Index, a measurement of the average change in prices for a commonly purchased basket of goods and services, dropped 0.1% from May, which helped to slow the annual rate of inflation to 3% from 3.3% in May, according to the Bureau of Labor Statistics’ latest report.
Falling gas prices as well as a drop in new and used car prices helped to usher in the first month-on-month decline since May 2020, BLS
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