Inflation slows a bit in June. Has it finally peaked?
WASHINGTON — After months of steadily climbing to a 40-year high, the pace of inflation slowed notably in June as gas prices fell sharply and Americans got some relief on the cost of clothing, cars and other necessities.The annual rate of inflation, as measured by the consumer price index, edged down to 8.5% in June from 9.1% in June, according to the Bureau of Labor Statistics in a report issued Wednesday.The June inflation figure, the highest since November 1981, is now looking like it may have been the peak of the price surge that began in spring 2021.
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