Declining inflation rates.
(Photo: Corbis Historical/Getty Images)
New York, Dusseldorf The inflation rate in the USA is getting closer and closer to the target level set by the Federal Reserve (Fed). The increase in consumer prices in the world’s largest economy again weakened surprisingly in June compared to the previous year to 3.0 percent. This was announced by the Ministry of Labor on Wednesday afternoon. However, there are concerns that inflation could rise again soon.
But the rate was last as low as in June more than two years ago. Economists had only expected inflation of 3.1 percent in advance. “We’re making progress on inflation while the economy is still doing pretty well,” Stephanie Link, an investment strategist at Hightower Investments, told CNBC. Only twelve months ago, the inflation rate had peaked at 9.1 percent.
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