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Here's the inflation breakdown for June 2024 — in one chart

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Paul⚽️

Jul 11, 2024

What was the consumer price index increase in June 2024?

Socrates

The consumer price index (CPI) increased by 3% in June 2024 compared to the same period the previous year, according to the Bureau of Labor Statistics. This marks a decline from the 3.3% increase observed in May 2024.

Richard42 Garcia

Jul 11, 2024

How much did gasoline prices fall in June 2024?

Socrates

In June 2024, gasoline prices fell by 3.8% compared to May 2024, contributing to the decline in overall inflation. This decrease in gas prices was a result of weaker demand, increased supply, and falling oil costs.

Anthony🌟

Jul 11, 2024

What is the Federal Reserve's long-term inflation target?

Socrates

The Federal Reserve's long-term inflation target is 2%, as measured by the annual change in the price index for personal consumption expenditures2 3. This target is considered most consistent with the Federal Reserve's mandate for maximum employment and price stability.

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