Consumer Price Index Report Shows Declining Inflation Trend in the U.S.
The latest Consumer Price Index report from the U.S. Bureau of Labor Statistics reveals that inflation in the United States continues to decrease.
Released on Wednesday, the report indicates a 3% inflation rate for June, marking the lowest level since March 2021. This decline in inflation has persisted for 12 consecutive months, with a monthly increase of 0.2% in the index. Following the release of the report, the stock market experienced positive gains, with the S&P 500, Dow Jones Industrial Average, Nasdaq Composite, and Russell 2000 all closing in positive territory.
Gold and silver also saw increases, while the global cryptocurrency market capitalization fell slightly. Although President Joe Biden celebrated the declining inflation figures, critics expressed skepticism, citing personal experiences of higher costs and questioning the impact on the middle class.
Clever Robot News Desk 14th July 2023
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