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Inflation Cooldown Offers Fed Breathing Room | Lexington News
Inflation cooled noticeably in June, dropping 0.4% from May—the biggest monthly decline in four years—with yearly inflation now at 3.5%, down from 4.2%. Cheaper gas, clothes, and used cars gave consumers a reprieve, while core inflation held steady at 2.6%, still above the Fed’s 2% target. Economists see this as a hopeful sign that recent spikes, like those from Middle East tensions, may be temporary. But caution remains: grocery and rent prices edged up, while electricity and clothing prices remain elevated. The Fed watches closely as AI investments could drive up chip and energy costs, and…
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