New data shows inflation cooled more than expected in June
Summary
New data from the U.S. Labor Department shows that inflation decreased more than experts predicted in June. This drop is mainly because gas prices fell, partly due to U.S. diplomatic talks with Iran.Key Facts
- Inflation measures how much prices for goods and services rise over time.
- In June, inflation went down more than expected.
- Gas prices dropped in June.
- The decrease in gas prices helped lower overall inflation.
- U.S. diplomatic efforts with Iran contributed to the fall in gas prices.
- The data comes from the U.S. Labor Department.
- The news was reported by CBS News.
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