After more than two years of rising prices, the rate of inflation is falling—and fast. The consumer price index rose just 3% in June from the prior year, its smallest increase since March 2021. It’s down 6.1 percentage points in the past 12 months, marking the largest such decline since 2009, when inflation had turned to deflation. The last time the rate of CPI fell from above 9% by 6.1 percentage points or more was in May 1952, when the index dropped 7.4 points to 1.9%.
Read More : Positive Outlook for Stock Market as Inflation Falls at Unusual Speed