Inflation slowed significantly in the US last month, sparking speculation it could end the fastest series of interest rate hikes since the 1980s. The US consumer price index (CPI) rose by 3% on the year in June, down from 4% a month earlier and marking its smallest rise since March 2021. But it is still above the Federal Reserve’s 2% target. Core CPI excluding food and energy, climbed 4.8% in June – its lowest rate since October 2021. Rents were the biggest contributor to inflation…
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